A series of new policies to facilitate the commercialization of second-hand cars

Since the Chinese government Work report in 2016 first proposed to stimulate the second-hand car market, The General Office of the State Council, the National Development and Reform Commission, the Ministry of Commerce and other departments have introduced policies to support the reform of relocation restriction, tax reduction, export, scrapping, remanufacturing, finance and other blocking points. Relevant national policies have been continuously optimized, basically systemizing the difficulties faced by the second-hand car industry in China.

In July this year, 17 departments including the Ministry of Commerce, the National Development and Reform Commission, and the Ministry of Industry and Information Technology jointly issued the Notice on Several Measures to Revitalize the circulation of Automobiles and Expand Automobile Consumption, introduced a series of new policies to facilitate the commercialization and circulation of second-hand automobiles, and completed the top-level design for the standardized management of the second-hand automobile market. In September this year, the Ministry of Commerce and the Ministry of Public Security issued the Notice on Improving the Registration of the Main Body of the Second-hand Car Market and the Registration of Vehicle Transactions, introducing a series of new measures to facilitate the registration of second-hand car transactions, further reducing the cost of the registration of second-hand car transactions, clarifying relevant management systems, and better promoting the sustainable and healthy development of the automobile ladder consumption and the second-hand car market.

"The establishment and introduction of the above systems and policies have provided the basic guarantee for China's second-hand car industry to move towards the world's top market, and completed the historic mission from the policy level and management level." Zhong stressed that as the world's largest commercial vehicle market, the country has more than 40 million commercial vehicles in 2021, and the used commercial vehicle industry has great potential for development.