China's used car sales continue to expand in July

Workers weld in a workshop at an automobile manufacturing company in Qingzhou, east of China's Shandong province. The sector raked in about 5.7 trillion yuan about US $802.84 billion during the January-August period, up 3.3 percent, according to the National Bureau of Statistics NBS ALSO READ: China's used car sales continue to expand in July.

The China Association of Automobile Manufacturers said 16.86 million units were up 1.7 percent compared to the same period in 2021.

The industry's profit increased by 100 percent year on year in August due to pro-consumption policies, according to NBS data.

READ MORE: Chinese-made vehicles exports are on the rise.

The sector's profit fell by 7.3 percent in the first eight months of 2022, with the decline narrowing by 7.1 percentage points over the first seven months.