SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Strategies & Market Trends : China Warehouse- More Than Crockery
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: RealMuLan who wrote (2528)1/21/2004 10:38:15 PM
From: RealMuLan  Read Replies (1) of 6370
 
China's central bank issues auto loans rules

SHANGHAI: The People's Bank of China, the country's central bank, has issued draft rules on auto loans, a growing sector expected to give China's fast-accelerating car market a major boost.

The new regulations restrict the loan period to five years with maximum outlay of 80 percent of the auto price, excluding taxes and insurance, the central bank said on its website.

Last month the China Banking Regulatory Commission gave the green light to General Motors Corp., Toyota Motor Corp. and Volkswagen AG to start offering car loans.

The three car giants are expected to set up auto-financing operations in China in about six months' time, the commission said.

Auto loans are forecast to increase by 80 billion yuan (9.6 billion dollars) in 2003, up 71.6 billion yuan year-on-year from last year, according to a government report issued by the State Development and Reform Commission.


channelnewsasia.com
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2026 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News