China’s oil imports soar as auto sales hit record highs

China’s crude oil imports rose 25.3 percent in the first quarter of the year as vehicle sales also soared, official statistics show, putting further pressure on world oil prices.

The announcement of China’s import figures came after the nation’s auto industry reported a record 1.73 million vehicles had been sold in the first quarter of this year, a 36.85 percent rise over the same period in 2005.