China commerce ministry has started allowing exports of second-hand cars, markin...
FILE PHOTO: Used cars are seen at a second-hand car market in Pingdingshan, Henan province, China November 15, 2018. Picture taken November 15, 2018. REUTERS/Yilei Sun
The move comes after sales in China contracted last year for the first time since 1990s. Amid worries of a further decline, Beijing handed out tax cuts earlier this year to spur consumer spending. The ministry will start identifying companies that can handle such exports and has also called for the development of tests to ensure the quality and safety of second-hand car exports, it said in a statement on Monday.
Such exports can “stimulate the vitality of the domestic automobile consumption market, promote the healthy development of China’s automobile industry, and promote the steady improvement of foreign trade”, it said.
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