The Chinese government has unveiled a comprehensive initiative to expand the automotive aftermarket. The package, developed by the Ministry of Commerce together with eight other government agencies, aims to boost domestic consumption and unlock the industry’s long-term growth potential.
The program covers 17 key areas, including:
- vehicle modification;
- motorsports;
- the classic car market;
- car rental services;
- vehicle maintenance and repair;
- automotive insurance.
One of the initiative’s key components is the designation of 40 pilot cities, where new approaches to developing the automotive market will be tested.
The reform also places particular emphasis on improving regulations for vehicle modifications, introducing unified standards for automotive components, and expanding the electric vehicle repair market. In addition, the government plans to support automotive tourism, RV camping infrastructure, and large-scale automotive events.
According to industry experts, the new measures are expected to increase demand for auto parts and after-sales services while creating additional growth opportunities across China’s automotive sector.
Read also: China Strengthens Its Position as a Global Technology Hub, Says Nvidia CEO
