The Ministry of Commerce and 17 other departments jointly issued

In January 2023, 17 departments including the Ministry of Commerce jointly issued the Notice on Several Measures to Revitalize Automobile Circulation and Expand Automobile Consumption, proposing to support the large-scale development of second-hand car circulation, support the acceleration of the development of second-hand car circulation, and improve the management regulations on registration, filing and vehicle transaction registration of the main body of the second-hand car market.
In February 2023, the China Automobile Circulation Association released the "National Second-hand Car Market Transaction Data in 2022", which shows that the cumulative transaction volume of second-hand cars in the country in 2022 was 16.963 million, down 8.3% year-on-year.
In May 2023, according to the data released by the China Automobile Circulation Association, the used car market maintained a recovery trend in May, with a transaction volume of more than 1.45 million vehicles, an increase of more than 21%.