Optimistic outlook for auto sector in 2019

The Ministry of Industry and Information Technology, China's top industry regulator, said on Wednesday that it is optimistic about the nation's automotive sector in 2019, with demand from small cities expected to grow while more old car models will exit the market this year.

Xin Guobin, vice-minister of industry and information technology, said although the automotive industry saw declines in production and sales in 2018, no erratic fluctuations or major ups and downs would emerge this year.

"The demand from third to fourth-tier cities will continue to grow, and with new environmental standards put into effect, old car models will be driven out of the market at a faster speed. Therefore, we should maintain optimism toward the automobile sector," Xin said at a news conference in Beijing.