Multiple Departments Roll Out Policies to Stimulate Full-Chain Automotive Consumption

[Policy Update] On June 23, the Ministry of Commerce and multiple other departments simultaneously released two major policy documents aimed at revitalizing the existing market of 370 million vehicles.

Key Developments: 40 Pilot Cities Tackle Circulation Bottlenecks, Focusing on Niche Segments

Forty reform pilot cities are advancing localized innovations: Tianjin is prioritizing vehicle modification and classic car racing, Shenyang is enhancing its used-car ecosystem, Yangzhou is developing RV camping, and Weinan is strengthening end-of-life vehicle recycling. The policies streamline transaction, registration, and approval processes, promoting integration between automotive consumption and cultural tourism as well as sports.

Key Statistics: 370 Million Vehicles Represent a New Blue Ocean

China’s vehicle ownership has reached 370 million, maintaining the world’s top sales position for 17 consecutive years. Policy focus is shifting from "purchase management" to "usage management," unlocking value in the existing fleet through expansion of the aftermarket.

Strategic Foundation: A Full-Chain Policy Package Counters Industry Downturn

On the same day, documents including "Several Measures to Cultivate and Expand Automotive Aftermarket Consumption" were issued, complemented by initiatives to promote new energy vehicles in rural areas, forming a comprehensive support system covering new cars, used cars, modifications, maintenance, and leasing.