In the People's Republic of China, suppliers and distributors of automobiles are required to establish an integrated system for automobile sales and after-sales services, ensure the supply of auto accessories, and comply with regulations concerning replacement, repair, refund (3R), and recalls. Dealers selling unauthorized automobiles must provide written notification to consumers and verify their identities. The Parallel-import Automobile Opinions, issued on February 22, 2016, permit pilot enterprises to import automobiles and establish distribution networks without supplier authorization, subject to import license regulations and customs procedures. On April 27, 2017, Shanghai authorities established requirements for pilot enterprises operating parallel-import automobile businesses in the Shanghai Pilot Free Trade Zone. These requirements include having at least one year of sales experience, registration within the zone, maintenance and service facilities, a good reputation, and established overseas purchasing channels. Enterprises with prior parallel-import records at Shanghai port are given priority.
Kaixin Holdings's Comment on Supply Chain
In the People's Republic of China, suppliers and distributors of automobiles are required to establish an integrated system for automobile sales and after-sales services, ensure the supply of auto accessories, and comply with regulations concerning replacement, repair, refund (3R), and recalls. Dealers selling unauthorized automobiles must provide written notification to consumers and verify their identities. The Parallel-import Automobile Opinions, issued on February 22, 2016, permit pilot enterprises to import automobiles and establish distribution networks without supplier authorization, subject to import license regulations and customs procedures. On April 27, 2017, Shanghai authorities established requirements for pilot enterprises operating parallel-import automobile businesses in the Shanghai Pilot Free Trade Zone. These requirements include having at least one year of sales experience, registration within the zone, maintenance and service facilities, a good reputation, and established overseas purchasing channels. Enterprises with prior parallel-import records at Shanghai port are given priority.
Sources:
Kaixin Holdings's official press releases and regulatory filings; CSIMarket.com's supply-chain research; and the financial filings and press releases of other companies cited in this report.
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