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Detailed auto trade measures to be adopted 
Last Updated(Beijing Time):2005-08-24 15:40

The Ministry of Commerce (MOC) will adopt and perfect detailed measures to standardize vehicle trade, said a MOC official Tuesday.

The official said that the new measures which have been or will be promulgated are to deal with the trading of second-hand cars, spare parts, and the recycling of discarded vehicles.

He noted that the detailed measures will help put the Policy on Auto Trade, which was issued by the ministry recently, into real practice.

The Policy on Auto Trade, being put into effect since August 10, 2005, outlined the overall principle of vehicle trade and target of government management of the industry.

He said that the government will introduce competition mechanism into auto trade industry and encourage companies to join in international competition.

The new policy also attached great importance in the protection of consumers' interests, said the official.

The official noted that with the rapid development of auto industry in the country, the old policies on auto trade have failed to meet the demand of new situation.

Statistics from the ministry shows that in 2004, China has become the third largest auto market in the world, with sales volume standing at 5 million units. China now has 27.09 million units of cars, up from 1995's 10 million units. Of the total, 55.3 percent are owned by individuals.

Source:Xinhuanet 
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