The field of automobile financing in China, self-brand enterprises and joint ventures have been the same treatment. Huishang Bank by Chery and Chery joint venture formed silver emblem car finance company, on April 21 announced the setting up in Shanghai. Since then, Chery has become China’s first independently owned financial services companies brand car.

The past, countries that only joint ventures and foreign capital to engage in automobile financing business. In June last year, Chery is allowed financial companies to build on a pilot basis. After 6 months to prepare, in December 2008 through the acceptance of the China Banking Regulatory Commission, approved the opening in April of this year. Preparation period, the Chery company and Huishang Bank as required to simulate the operation, and accumulated some experience.

Silver Emblem Chery Automobile Finance Company reserved finance of 5 billion yuan, of which Chery invested 400 million yuan, accounting for 80% of shares; Huishang Bank portions accounted for 20%. The company’s finance is split into 12 many plates, including: the furnishes of consumer car hire finance to deliver procurement motor vehicle dealer hires and supplies hires task, surrounding erected plan hires and the Exhibition Hall, spare parts and maintenance supplies loans; and the furnishes of car hiring finance and so on.

Chery Automobile Emblem Bank to set up economic businesses, in order that enterprises can have more means to support market development, China’s economic scheme is an significant breakthrough.

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