Xinhua Silk Road - Belt and Road Portal, China's silk road economic belt and 21st Century Maritime Silk Road Website Xinhua Silk Road - Belt and Road Portal, China's silk road economic belt and 21st Century Maritime Silk Road Website
Subscribe CustomBlackClose

Belt & Road Weekly Subscription Form

download_pop

Research ReportCustomBlackClose

The full edition of the report is available at Xinhua Silk Road Database. You can click the “Table of Content” to have a general understanding of it.

Click on the button below to create your account and get immediate access to thousands of articles.

Start a Free Trial

Xinhua Silk Road Database
Local

China's parallel-import program expansion to boost foreign car sales

December 04, 2018


Abstract : China's plan to expand its pilot parallel-import program in free trade zones will offer customers more choices and further open up its automotive industry, the China Daily reported Monday.

QQ截图20181204152747

BEIJING, Dec. 4 (Xinhua) -- China's plan to expand its pilot parallel-import program in free trade zones will offer customers more choices and further open up its automotive industry, the China Daily reported Monday.

The State Council, China's cabinet, announced late last month that all China's 12 free trade zones should be allowed to pilot the parallel-import program.

Meanwhile, the free trade zones are encouraged to offer bonded storage for such imports, according to the newspaper.

The program, unlike traditional car importing, does not require auto dealers to import strictly from car makers. The vehicles involved will be new to the Chinese market, providing more choices for customers.

Having started in Shanghai in 2015 and expanded to some other free trade zones, the program is a key measure of ongoing supply-side reform in the automotive industry, the newspaper cited Chen Zhenchong, an official from the General Administration of Customs, as saying.

It also helps facilitate car sales in China and increase the number of imports, Chen added.

The first three quarters of this year saw 95,871 vehicles brought to China under the program, up 5.9 percent year on year, data from the administration showed.

To further promote the program, China has announced plans to scrap time limits on parallel-vehicles' bonded storage in free trade zones.

The move will allow importers to have a more flexible sales plan, without worrying about paying taxes on the vehicles before they are sold.

Scan the QR code and push it to your mobile phone

Keyword: FTZ China-import foreign-car-sale

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to [email protected] and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial

Ask Us A Question belt & road login close

If you have any questions, please enter them in the box below.

Identifying code Reload

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to silkroadweekly@xinhua.org and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial