China's growth rate of record lows

One of the “main criminals” whose real growth rate for the Chinese economy in the July-September period reached a record low is the sluggish sales of new cars, a symbol of vigorous consumption. Once popular as a symbol of wealth, it has now fallen for 15 consecutive months. On the other hand, there was a scene crowded with customers who tightened their wallets.

A corner of Tianjin Bonded Zone. “Castle Castle” (automotive store) where imported cars cross the brand line up.

“This is 900,000 yuan (14 million yen) in Japan, but here it is 840,000 yuan.”

The salesman male spoke and pointed to a sports multipurpose vehicle (SUV). We sell parallel imported cars that are imported without going through the manufacturer. The cheap price grabbed the wallets of those who decided to buy expensive items. According to a Chinese research institution, the number of parallel imports from January to July was 100,000, an increase of 16.5% year-on-year.

In contrast, new car sales are in the shadow of ...