Shanghai attempts implementing fair trade zone for automobiles
The Ministry of Commerce confirmed today that the Shanghai Pilot Free Trade Zone will attempt tariff-free trading policies, the Beijing Youth Daily reported. If the policies gain official approval, vehicles originally imported on the grey market will now be legal. Prices of imported vehicles will decrease by at least 15 percent, with prices of luxury vehicles being reduced by as much as 20 percent to 30 percent.
To this end, the Shanghai government has announced that it will establish a trading platform and comprehensive maintenance center for imported vehicles. The center will unify dealership management, guarantee service protection, safeguard consumer rights and conduct auto part supply work.
Soon after the news, Beijing's Yayuncun Car Market stated that it had signed an agreement with the People's Insurance Company of China to form a strategic framework to support insurance and warranty services for imported automobiles.
- Tireworld Insight: Domestic tire makers eye overseas expansion
- Tireworld Insight: Price disparity severe between China's rubber exports and imports
- Tireworld Insight: China tire exports dependent on US market performance
- Tireworld Insight: SHFE rubber expected to move in tight range in short-term
- Tireworld Insight: Rubber futures to test near-term resistance at 15,000 yuan/tonne
- Tireworld Insight: China’s tire industry on track of rapid growth
