China urges development of second-hand markets

Special Report:Global Financial Crisis

BEIJING, March 15 (Chinese media) -- China's Ministry of Commerce (MOC) has urged local governments to promote development of second-hand commodity markets to stimulate economic growth and increase employment.

The ministry said in a recent circular that local governments should strive to build a batch of big second-hand commodity markets in large and medium-size cities.

It said the development of second-hand markets meets the country's target of building a resource-saving and eco-friendly society, will help reinvigorate company inventories, meet consumers' demand, increase job opportunities and raise incomes of migrant workers and laid-off workers in cities.

The circular required local commerce administrations to take effective measures to promote construction of a second-hand goods circulation network, in a bid to improve the country's consumption structure.

It required local governments to standardize management of big second-hand markets and make them competitive globally. It also encouraged home appliance companies and large retailers to engage in second-hand commodity trade.

It suggested people engaged in second-hand goods trade should have professional training and noted that all second-hand goods being sold must bear special marks put forward by the country's second-hand industry association.