Firm Aims to Enter Auto Finance Sector
China.org.cn
Anhui Jianghuai Automobile Co Ltd, the No 11 Chinese vehicle producer listed in Shanghai, plans to enter the nation's burgeoning auto financing sector with its parent and a State-owned asset management company.The automaker in East China's Anhui Province said in a statement that it would form a joint venture with its parent firm Anhui Jianghuai Automobile Group and China Orient Asset Management Co Ltd to provide loans to vehicle buyers.The venture, pending approval from the China Banking Regulatory Commission, will be capitalized at 500 million yuan (US$63.9 million) and located in Hefei, the province's capital city, Jianghuai Automobile said.
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China.org.cn
Anhui Jianghuai Automobile Co Ltd, the No 11 Chinese vehicle producer listed in Shanghai, plans to enter the nation's burgeoning auto financing sector with its parent and a State-owned asset management company.The automaker in East China's Anhui Province said in a statement that it would form a joint venture with its parent firm Anhui Jianghuai Automobile Group and China Orient Asset Management Co Ltd to provide loans to vehicle buyers.The venture, pending approval from the China Banking Regulatory Commission, will be capitalized at 500 million yuan (US$63.9 million) and located in Hefei, the province's capital city, Jianghuai Automobile said.
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posted by Auto Report World Editors at 2:46 PM 
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