China's first port-based used car export service center opens in Shanghai

The used car export business is a relatively new yet rapidly developing industry in China, having only commenced five years ago. In 2019, to promote high-quality development in foreign trade and stimulate the domestic automobile consumption market, the Ministry of Commerce, the General Administration of Customs and the Ministry of Public Security jointly launched a nationwide pilot program for used car exports.

According to data from the Ministry of Commerce, a total of 275,000 used cars were exported nationwide in 2023, generating an export value of $6.88 billion. Shanghai, as one of the initial pilot cities for used car exports, has seen a continuous surge in demand for used car exports in recent years. This demand has attracted a cluster of enterprises with domestic car sources and overseas markets, establishing Shanghai as a key hub in the industry.

To further stimulate the development of used car exports in Shanghai, the city has introduced 13 measures to promote the industry, including the establishment of this newly-unveiled service center. These measures are expected to bolster Shanghai's position as a leading player in the global used car export market, fostering growth and innovation in the sector.

Li Junfeng contributed to this story.