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China may issue new policies to stimulate auto demand - vice industry minister

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03/29/2020 | 10:49pm EDT

China may issue new policies to stimulate demand for automobiles, with the country's auto industry still facing difficulties, Xin Guobin, vice minister of industry and information technology, said on Monday.

There is still not enough demand for autos, Xin told reporters, as the outbreak of the coronavirus has dramatically cut private consumption.

Autos account for a big portion of China's overall industrial production, and are the main driver of the country's retail sales.

China is also working to help its auto spare parts manufacturers resolve cash flow problems, Xin said.

(Reporting by Huizhong Wu; Writing by Ryan Woo; Editing by Raju Gopalakrishnan)

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