Appraisal Law gets harsher on used car appraisers

China's long-awaited new Appraisal Law is expected to come out next year, Guangzhou Daily reported, citing Yan Fei, general secretary of the Guangdong Automobile Dealers Association.

 

The Appraisal Law was first drafted by the Ministry of Finance in early 2005, aiming at managing the appraisal industry and standardizing appraisers' professional training.

 

Beginning this year, Guangdong's second-hand car appraisers will register or be censured at the Guangdong Automobile Dealers Association.

 

Currently, appraisers can directly register with the association right after they pass the national examination, which is organized by the China Automobile Dealers Association. However, they will now be required to have an additional two years' working experience in the appraisal industry and pass additional examination on general knowledge.

 

In the first half this year, over one million second-hand vehicles were sold nationwide, up 21.94 percent year-on-year, according to the Ministry of Commerce. Guangdong Province accounted for 206,400 of the vehicles sold, up 47.96 percent compared with a year before and topping among all provinces and municipalities.

 

As the growth of the second-hand automobile market explodes, the appraiser for second-hand cars has turned into a hot occupation, and therefore calls for strengthened management.