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Strategies & Market Trends : Greater China Stocks
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From: Julius Wong4/20/2017 10:25:37 PM
   of 8334
 
Bitauto raises $1B from China peers
  • Bitauto ( BITA +3.7%) has new fodder for building out its car financing platform, with a fresh $1B raised from Tencent ( TCEHY +3.4%), Baidu ( BIDU +0.9%) and JD.com ( JD +1.8%).
  • The company has the largest car-finance platform in China, where consumers traditionally avoid car loans. Deloitte expects 50% of cars to be bought on credit in China by 2020 (vs. about 80% in the U.S. today).
  • Bitauto is up 33.5% YTD
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