The China’s Ministry of Commerce gave permission for the export of used cars.
This will be a step in the development of a new direction for China trade in the global market.
Last year car sales in China for the first time since the 1990-ies has declined. Amid concerns about the further decline of Beijing decided to support the automotive sector: the Ministry of Commerce said, giving permission to export used cars from ten Chinese cities and provinces, including Beijing, Shanghai and Guangdong, and that strongly support the sale of used cars.
It also called for the development of tests to ensure the quality and safety of export of used cars, media reported.
Such exports can stimulate the vitality of domestic consumption of cars and will have a positive impact on the development of automobile industry of China as a whole.
The market of used cars in China is still much less than the new market. So, in 2018, their sales in China amounted to 13,82 million units, which accounted for less than half of new car sales – 28,08 million units.
If used car dealers are successful, this will help smooth out the drop in new car sales and revive the domestic market, I believe in the Chinese Ministry of Commerce.