MOFCOM Launches Pilot Reforms to Boost Auto Trade-ins and Consumption

On February 6, the Ministry of Commerce convened a symposium with automobile enterprises to discuss measures to boost automotive circulation and consumption. Sheng Qiuping, Vice Minister of Commerce, emphasized that the automotive industry is a strategic pillar of the national economy and plays a critical role in stabilizing growth and expanding domestic demand. China's auto consumption will continue leading the market through 2025, and in 2026, the government will optimize and implement policies for trade-in programs, launch pilot reforms in auto circulation and consumption, refine industry management systems, and drive expansion and quality improvement in consumption. Multiple government departments will coordinate efforts, integrating existing and new policies to unlock the potential of China’s ultra-large market. Representatives from participating enterprises stated that the series of supportive national policies have effectively promoted high-quality market development, and their companies will continue to focus on innovation. Relevant departments, including the Ministry of Industry and Information Technology, the Ministry of Public Security, and the Ministry of Transport, addressed enterprise concerns on-site.