China's used car market hit a record high in 2025, with transactions topping 20 million units, according to data from the China Automobile Dealers Association (CADA).
Data showed that transactions of the used cars totaled 20.108 million units in the year, up 2.52 percent year on year. Among them, transactions of used new energy vehicle (NEV) rose to 1.6 million units, accounting for 7.9 percent of total used car sales, an increase of 2.2 percentage points from a year earlier, supported by the continued expansion of China's NEV ownership base.
In December, the vehicle transfer rate, a key gauge of cross-regional circulation, climbed to 34.9 percent, up 4.7 percentage points from the previous year.
Industry insiders said measures to curb excessive competition in the auto industry, along with the broader rollout of vehicle trade-in programs, are expected to help stabilize new car prices in 2026, creating more favorable conditions for the used car market.
China's second-hand vehicle sales top 20 mln in 2025
China's development is an opportunity, not a threat, and China is willing to leverage its market advantages and share its opportunities with other countries, Chinese Vice Premier He Lifeng said on Tuesday at the World Economic Forum in Davos, Switzerland.
China adheres to the principles of equality, mutual benefit and resolving issues through consultation to create win-win and multi-win outcomes, he added during his special address at the forum.
"China's development presents an opportunity, not a threat, to the world's economy. When it comes to differences and misunderstandings in international economic and trade cooperation, China calls for equal consultation to enhance mutual trust, bridge differences and solve problems," said He.
The vice premier highlighted that China will continue to expand its opening-up.
"China will open its door still wider to the world. China will actively expand voluntary opening-up, and proactively align with high-standard international economic and trade rules. China will continue to foster a market-oriented, law-based and internationalized business environment, provide equal treatment for both domestic and foreign enterprises. We welcome foreign enterprises to continue to invest in China and share in China's opportunities. We hope governments of other countries can provide a fair, non-discriminatory, transparent and predictable investment environment for Chinese enterprises," he said.
Under the theme "A Spirit of Dialogue", the 2026 WEF meeting opened on Monday in the Swiss Alpine town of Davos and will run through Friday. About 3,000 leaders and experts from around the world are gathering to discuss five pressing global challenges, including enhancing cooperation, unlocking new sources of growth and deploying innovation at scale and responsibly.
China willing to leverage its market advantages, share opportunities with world: vice premier
