HK Stock Market Move | DONGFENG GROUP (00489) Rises Over 14% Again, Shanghai is Building an international Second-hand Car Export System.

DONGFENG GROUP (00489) rose by over 14%, up 14.33% to 3.44 Hong Kong dollars, with a turnover of 435 million Hong Kong dollars as of the time of publication. In terms of news, recently, the Shanghai Municipal Commission of Commerce, the Shanghai Municipal Commission of Economy and Information Technology, the Shanghai Public Security Bureau, and the Shanghai Municipal Transportation Commission issued "Several Measures to Promote the Export of Second-hand Cars in Shanghai", proposing to facilitate the trade chain of second-hand cars, promote the development of high-quality enterprises and supporting industrial chains for the export of second-hand cars, and promote a significant increase in the scale of second-hand car exports. Improve domestic trading services for second-hand cars and enhance the international recognition of the second-hand car trading assessment system. Promote the construction of functional carriers such as second-hand car information platforms, pricing centers, and assessment centers, forming a virtuous cycle of exporting old cars and domestic second-hand car trading, creating an international second-hand car export system. The measures also propose setting a quota for special export licenses for second-hand cars. Second-hand car export enterprises can submit applications and a commitment letter to the Shanghai Municipal Commission of Commerce jointly with an upstream related enterprise in Shanghai, for the total quota of special export licenses for second-hand cars required for export. After the Shanghai Municipal Commission of Commerce determines the total quota of special export licenses for export, second-hand car export enterprises can submit an application form with the upstream related enterprise to apply for the corresponding quota based on the actual number of purchased vehicles. Vehicles registered with the special export license quota do not have the right to drive on the road.