Yoliang and FAW Hongqi Establish Strategic Partnership
Yoliang and FAW Hongqi Launch Strategic Cooperation
The Yoliang Company, one of China’s emerging B2B used vehicle circulation technology platforms, has officially entered into a strategic partnership with FAW Hongqi, one of China’s most iconic premium automotive brands.
Under the agreement, the two companies will collaborate across multiple areas of the used vehicle business, including wholesale transactions, trade-in operations, and dealership used vehicle management. The partnership is designed to leverage the strengths of both organizations, promote resource sharing, and further enhance Hongqi’s nationwide used vehicle business capabilities.
With a heritage spanning more than six decades, FAW Hongqi has played a significant role in the development of China’s automotive industry. Guided by its brand philosophy of “Chinese New Luxury”, Hongqi continues to strengthen its technological capabilities while expanding its presence across the automotive value chain.
China’s Expanding Used Vehicle Market Creates New Opportunities
China’s used vehicle market has entered a new stage of rapid development, supported by favorable government policies and growing consumer demand.
In July 2023, China’s National Development and Reform Commission (NDRC), together with the Ministry of Industry and Information Technology (MIIT), the Ministry of Public Security, and several other government agencies, jointly issued a policy package aimed at stimulating automotive consumption and accelerating the development of the used vehicle market.
According to data released by the China Automobile Dealers Association (CADA), nationwide used vehicle transactions reached 16.75 million units during the first eleven months of 2023, representing a 14.65% year-over-year increase, with total transaction value exceeding RMB 1.07 trillion.
As used vehicles become an increasingly important contributor to dealership profitability, more automotive manufacturers are accelerating investments in used vehicle operations as part of their long-term retail strategies.
Digital Auction Platform Supports Dealer Networks Nationwide
As one of China’s rapidly growing B2B used vehicle auction platforms, The Yoliang Company has established strategic partnerships with numerous leading dealership groups across the country, including Zhongsheng Group. The company’s dealer network already includes more than 1,500 dealership partners.
Through its nationwide digital auction platform, The Yoliang Company provides professional end-to-end wholesale transaction services covering:
- Vehicle inventory management
- Professional vehicle inspections
- Online auction participation
- Wholesale vehicle auctions
- Post-transaction services
- Ownership transfer administration
- Vehicle logistics and delivery management
The integrated platform enables dealerships and professional used vehicle businesses to manage vehicle disposal more efficiently while improving transparency throughout the transaction process.
Technology-Driven Innovation Improves Transaction Efficiency
As competition within China’s used vehicle market continues to intensify, The Yoliang Company has focused on developing intelligent digital solutions that improve transaction efficiency across the automotive circulation ecosystem.
Its mobile platform connects professional buyers and sellers through a nationwide digital marketplace, enabling cross-regional wholesale transactions while improving both vehicle sourcing and remarketing efficiency.
Continuous enhancements to the auction interface and intelligent bidding experience have strengthened procurement capabilities for professional dealers while significantly improving vehicle disposal efficiency for consignors.
Supported by nationwide buyer resources and intelligent matching technologies, the platform helps accelerate vehicle circulation across regional markets and improves overall market liquidity.
Rapid Business Growth Following Platform Launch
Since the launch of its mobile application on October 8, 2023, The Yoliang Company has successfully conducted more than 500 used vehicle auctions, with transaction volumes continuing to grow.
In December, the company launched its nationwide Winter Sales Campaign, covering five major regional markets across China. The campaign featured a wide selection of trade-in vehicles, promotional auction events, and customer engagement activities designed to strengthen dealer participation while improving vehicle circulation efficiency.
The positive market response further reflects growing demand for digital wholesale auction services among China’s professional automotive dealers.
Looking Ahead
As China’s used vehicle market continues to expand, The Yoliang Company will continue leveraging its industry expertise and digital technologies to provide efficient, transparent, and intelligent wholesale transaction services for professional automotive businesses.
Through its strategic partnership with FAW Hongqi and other leading dealership groups and automotive manufacturers, the company aims to further improve operational efficiency, accelerate used vehicle circulation, and support the sustainable development of China’s automotive industry within an increasingly circular economy.
About The Yoliang Company
The Yoliang Company is one of China’s emerging B2B used vehicle circulation technology companies, providing trusted and transparent wholesale auction services for professional used vehicle businesses.
Its nationwide Yoliang Auctions network serves multiple key automotive markets across China, connecting major vehicle supply hubs in North China, East China, Northeast China, Southwest China, and South China through its digital marketplace.
Powered by its mobile platform and digital technologies, The Yoliang Company continues expanding its nationwide network of professional dealers and automotive partners while improving the efficiency and transparency of China’s used vehicle circulation industry.
About FAW Hongqi
Hongqi is the premium automotive brand directly operated by China FAW Group Co., Ltd.
Established in 1958, Hongqi is one of China’s most prestigious automotive brands and has long served as the official state limousine for major national ceremonies and important governmental events.
In 2018, Hongqi introduced its new brand strategy centered on the philosophy of “Chinese New Luxury”, combining premium craftsmanship with advanced technologies.
Today, the brand offers a growing portfolio of luxury sedans, SUVs, MPVs, and new energy vehicles, continuing to expand its presence in both China’s domestic market and international markets.
Translation Disclaimer
This English translation is provided solely for the convenience of international readers.
It is translated from the original Chinese-language article published by The Yoliang Company on December 19, 2023. Every effort has been made to ensure the accuracy of the translation. In the event of any discrepancy or inconsistency between the English translation and the original Chinese version, the original Chinese-language version shall prevail.
This translation is intended for informational purposes only and should not be regarded as an official legal or regulatory interpretation of the original publication.