Shanghai unveils measures to boost used car exports

Shanghai has unveiled a series of supportive measures to boost used car exports in a bid to accelerate the high-quality development of the sector.

The 13 measures are designed to facilitate productivity in the international used car trade chain, promote the clustering of high-quality used car export enterprises and supporting industries, and significantly increase the scale of used car exports. The measures were introduced as part of a circular jointly released by the Shanghai Municipal Commission of Commerce, Shanghai Municipal Commission of Economy and Informatization, Shanghai Municipal Bureau of Public Security, and the Shanghai Municipal Transportation Commission.

The document explains that the measures aim to enhance domestic used car transaction services and improve international recognition of the used car evaluation system.

Measures will be taken to develop information platforms, pricing centers, and evaluation centers to foster a positive cycle between used car exports and domestic transactions and create a globally focused used car export system, it added.

The new policy measures support eligible automotive production and distribution enterprises in applying for export registration to expand the scale of used car exports and allow export enterprises to apply for special export license quotas.

Green channels and batch processing services for large-scale used car export transactions will be provided, along with guidance on customs procedures. Improvements will also be made to port operations for used car exports.

The new policy measures also encourage participation in international auto exhibitions and cross-border e-commerce platforms and support domestic enterprises in establishing overseas branches and service networks.

New support will also be provided for the establishment of export-oriented used car markets and industry associations, encouraging banks and insurance companies to provide financial services and insurance for used car exports. Export credit insurance for used car businesses and comprehensive insurance services are also included in the initiative.

The new policy measures take effect immediately and will remain in force until Oct 18, 2029.