Renrenche's founder and CEO Li Jian announced in an all-employee internal letter that the company formally launched its "new platform, new retail" strategy upgrade.

Under the new strategy, Renrenche will implement platform operation and combine the platform's brand, technology, and resource advantages with partners' experience, skills, and subjective initiative to improve efficiency of used car trading and maximize individual value.

Renrenche will launch several measures to support its new strategy. The company will establish a CNY80 million special support fund to enable partners financially and help them implement businesses. The company will open new retail stores to provide partners with a series of services, covering venues, testing, pricing, preparation, finance, and post-sales. The company will enhance brand advertising to build an all-round ecology from trade, maintenance, insurance to extended warranty.