Core Insights - The Ministry of Commerce is promoting reforms in the automotive circulation and consumption sectors to stimulate the automotive aftermarket, which has a market size of several trillion yuan [1][2] - The automotive aftermarket in China has shown a compound annual growth rate of 9.2% from 2019 to 2023, reaching a market size of 5.4 trillion yuan in 2023, with projections to exceed 7 trillion yuan by 2025 [1][2] Group 1 - The Ministry of Commerce is implementing pilot reforms in automotive circulation consumption to enhance market vitality [1] - The automotive aftermarket encompasses the entire lifecycle of a vehicle, from purchase to scrapping, benefiting various sectors such as automotive maintenance, finance, and recycling [1] - The automotive aftermarket is expected to grow at an annual rate of 5%-7% over the next 10-15 years, driven by ongoing policy support [2] Group 2 - The automotive scrapping and dismantling industry is experiencing unprecedented growth opportunities due to supportive policies and innovative measures [2] - The definition of the automotive aftermarket is expanding, now including not only maintenance but also activities related to automotive culture, events, and leisure [2]