China to lift ban on used car exports, targeting emerging economies
TOKYO, NNA – The Chinese government said it will lift a ban on used car exports, targeting developing countries in the region of its Belt and Road Initiative.
The Ministry of Commerce said Monday it will work with the Ministry of Public Security and the General Administration of Customs to allow second-hand vehicle shipments from 10 Chinese cities including Beijing and Shanghai. It did not say when shipments could start.
The other cities are: Tianjin and Taizhou in Zhejiang province and Qingdao and Jining in Shangdong on the eastern coast;
Chengdu in Sichuan and Xian in Shanxi, central China; Xiamen and Guangdong province in the south.
China’s second-hand vehicle trade totaled 13.8 million units in 2018, about a half the 28 million new vehicles sold.
In major economies, the used car market is twice the size of the new vehicle market, according to China Automobile Dealers Association data quoted by the government.