BEIJING — China has launched exports of second-hand cars, with Beijing, Tianjin, Shanghai and Guangdong among the first batch of 10 regions allowed to conduct such trade, according to a statement from the Ministry of Commerce.
The second-hand cars export market has huge growth potential, according to the statement issued on May 6.
The trade was officially kicked off on May 5. Earlier, a guideline was released in late April which required the development of sound inspection and after-sales services for second-hand cars exports.
The MOC will work with the Ministry of Public Security and the General Administration of Customs to improve regulations and services to support the sector, the statement said.
Industrial data showed that about 13.82 million used cars were traded in China last year, less than half of the new vehicles sold.