China Develops Auto Financing

www.chinabuses.org: News from China central government reveals that it is expected to issue a new policy in the first quarter of this year to support auto financing system. This new policy can boost the domestic auto market and spur the customers to buy vehicles. The domestic banks will provide the low-interest loans to customers and finance companies to support the auto sale.

According to the short-term plan, many domestic automakers, such as FAW Group, Chang'an Auto, JAC Motors and Brilliance Auto will set up their financing companies in this year. These companies can offer convenient ways for customers to get the loans. Some Chinese automakers, such as Geely and BYD, they will develop the auto loan operation. Customers can get the loans directly from the 4S shops. Currently, the auto financing system in China is not very developed. Hence, China central government will develop this business sector in the next several years. It is the potential business opportunity.

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