[China to further reform auto circulation and consumption]
On August 31, the Ministry of Commerce and six other government departments issued the Implementation Opinions on Promoting the Expansion and Upgrade of Commodity Consumption. The Opinions state that China will deepen pilot reforms in automobile circulation and consumption, accelerate the removal of unreasonable restrictive measures in this sector, innovate vehicle usage management models, and expand auto consumption across the entire chain. Efforts will be made to encourage relevant regions to optimize vehicle purchase restrictions to better meet residents' car-buying needs. The development of the automotive aftermarket will be cultivated and strengthened, with support for auto modification, maintenance and repair, motorsports, and RV camping, as well as the establishment of a system for the recognition and management of classic vehicles. The mechanism for information sharing among government departments will be improved, and a vehicle lifecycle information exchange system covering sales, registration, maintenance, insurance, and scrappage will be set up. The management system for used car circulation will be refined, mutual recognition of unified invoices for used car sales will be promoted, and a tiered and categorized management approach for used car business operators will be implemented.