BEIJING, May 7 (Xinhua) -- China is allowing exports of second-hand vehicles in an attempt to promote transformation and upgrading of the country’s second-hand vehicle market.
China’s Ministry of Commerce announced on Monday that it has joined hands with the Ministry of Public Security and the General Administration of Customs to start working on second-hand car export business.
According to the MOC, the move is deemed as a milestone event in the history of China's auto industry.
It is learned that 10 provinces and cities including Beijing, Tianjin, Shanghai, Taizhou in Zhejiang province, Jining in Shandong province, Guangdong, Chengdu in Sichuan province, Xi'an in Shaanxi province, Qingdao in Shandong province and Xiamen in Fujian province, are allowed to export second-hand vehicles as the first batch of regions to make the business.
In 2018, about 13.82 million second-hand automobile were traded in China, less than half of 28.08 million new vehicles sold in the year.
Industrial insiders noted that greenlighting exports of second-hand vehicles will not only expand the scale of foreign trade, but also energize the domestic auto industry, stimulate new car consumption and second-hand vehicle circulation, and finally accelerate the upgrading of the auto industry.
(Edited by Yang Yifan, yangyifan@xinhua.org)
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