Profits of major auto manufacturing firms in China expanded 29.8 percent year on year in the first quarter of 2014, according to the latest data from the National Bureau of Statistics (NBS).
Profits of major auto manufacturing companies, or those with annual revenues of more than 20 million yuan (about 3.15 million US dollars) each, amounted to 133.13 billion yuan in January-March, said the NBS.
Main business revenues of these large auto firms grew 17.3 percent year on year to 1.53 trillion yuan in the first three months.
