China's auto parts import value down 12.4% in 2023

China's auto parts import value fell 12.4 percent year on year to 29.84 billion U.S. dollars in 2023, data from the General Administration of Customs showed.

However, auto parts import value increased by 9.1 percent in December 2023 compared with a year earlier, totaling 3.01 billion U.S. dollars.

Last year, China's new car sales exceeded 30 million units for the first time, up 12 percent year on year.

Vice Minister of Commerce Sheng Qiuping said at a press conference earlier this month that car ownership had reached 340 million in China -- ranking first in the world.