Shanghai FTZ starts parallel imports

Lai Xinlin / for China Daily

The China (Shanghai) Pilot Free Trade Zone is the first place in China to authorize so-called parallel imports of cars direct from overseas. However, Shanghai government agencies have set strict restrictions on who can join the new system. Some 20 auto dealers who registered in the zone in January are participating, operating alongside the zone's franchised dealers. The new move in Shanghai is expected to pull down prices of the parallel-import cars 15 to 20 percent lower.