File photo: Xinhua

China will join hands with ASEAN countries to establish an automotive industry committee in an attempt to build a second-hand vehicle trading system, the Xinhua-run Shanghai Securities Journal quoted president of Federation of Motor and Credit Companies Association of Malaysia (FMCCAM) Dato' Tony Khor Chong Boon as saying on Wednesday.

It is learned that 2021 China-ASEAN Online Summit of Used Vehicles & Founding Conference of CABA Automotive Industry Committee will be held online during January 14-15 next year.

This is the first professional summit related to second-hand car exports jointly organized by China and ASEAN countries and one of the most important activities for implementing the Regional Comprehensive Economic Partnership (RCEP) agreement and promoting exchanges and communication between China and ASEAN countries, Dato' Tony Khor Chong Boon said at a news conference of 2021 China-ASEAN Online Summit of Used Vehicles & Founding Conference of CABA Automotive Industry Committee held online on Wednesday.

He also expressed his hope that through this summit, China and ASEAN countries will jointly set up a second-hand vehicle trading system and establish an automotive industry committee, which will provide guiding services for the second-hand car companies in China and ASEAN countries in the future.

He also pointed out that in the next ten years, ASEAN is likely to deliver over tens of millions of vehicles and become one of the fastest growing and most potential markets in the world for automobile consumption.

It is reported that the automotive industry committee will be affiliated to China-ASEAN Business Association and Dato' Tony Khor Chong Boon was proposed to be appointed as the chairman of the committee.