China's Tire Industry Expands Rapidly Amid Soaring...
China News
January 23, 2024
China's tire industry is experiencing significant growth, rebounding from challenges posed by the COVID-19 pandemic, largely due to increased demand abroad. In 2023, the country produced 591 million semi-steel passenger car radial tires, marking a notable 22 percent growth compared to the previous year. Exports also surged, rising by 20 percent to reach 287 million units. Tire trading companies, such as one in Qingdao, reported over a 30 percent increase in tire exports in 2023.