Baoxin Auto Successfully Won Approval as One of the First Qualified Pilot Companies in FTZ (Shanghai)

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Feb 11, 2015 20:24 JST

Source: Grand Baoxin Auto Group Limited

Baoxin Auto Successfully Won Approval as One of the First Qualified Pilot Companies in FTZ (Shanghai)

HONG KONG, Feb 11, 2015 - (ACN Newswire) - Baoxin Auto Group Limited is pleased to announce that it has won approval on February 10, 2015 for parallel imports of vehicles as one of the First Qualified Companies in China (Shanghai) Pilot Free Trade Zone ("FTZ"). According to Shanghai Municipal Commission of Commerce announced on its website, 17 companies have been cleared for the parallel import scheme, which allows dealers to import vehicles directly from overseas without authorization from the brand owners.

The pilot program for parallel imports of cars in FTZ is a move could lead to more reasonable car price for oversea brands and stimulates the Auto industry. It provides an option for dealers to freely choose the brands and models to sell in the auto market. The scheme also includes insurance securities that could ensure qualities of the imported cars, maintenance records that track car origins, and an aftersales handbook that fulfills consumers' needs, aftersales service will be provided by the trading market.

Source: Grand Baoxin Auto Group Limited
Sectors: Daily Finance, Automotive, Daily News

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