China's Ministry of Commerce (MOC) will hold a meeting this afternoon (27th) with industry organizations and carmakers, including BYD COMPANY (01211.HK)  -9.000 (-2.184%)    Short selling $1.61B; Ratio 13.606%   , DONGFENG GROUP (00489.HK)  -0.170 (-4.709%)    Short selling $73.71M; Ratio 21.485%   , the China Association of Automobile Manufacturers, the China Automobile Dealers Association, as well as several used car trading platforms, to discuss boosting sales of "zero-mileage" used cars, Reuters reported, citing sources.

Wei Jian Jun, CEO of GWMOTOR (02333.HK)  -0.220 (-1.757%)    Short selling $45.20M; Ratio 20.125%   , recently revealed the occurrence of "zero-mileage" used cars in China, which he believed to be a result of years of fierce market competition, with manufacturers and dealers accumulating large inventories because of factors like failed market forecasts and overcapacity.

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In order to ease inventory pressure and recoup funds, dealers have been registering new cars that have sat in stock for extended periods as used cars and selling them as "zero-mileage" used cars. This approach allows them to quickly clear inventory and avoid the depreciation that comes with long-term storage of new vehicles to some extent.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2025-06-06 16:25.)