FOREIGN AUTOMAKER QUICKENS TO FOUND AUTO FINANCE COMPANY
AsiaInfo Services, August, 2004
AsiaInfo Services 08-09-2004 Foreign Automaker Quickens to Found Auto Finance Company CHINA, Aug 09, 2004 (SinoCast via COMTEX) -- Ford Motor Credit Company (Ford Credit), a wholly owned subsidiary of Ford Motor Company and the largest automotive finance company in the world, announces that China Banking Regulatory Commission (CBRC) has ratified its application for creating an automotive finance company in China. In line with the plan of Ford Credit, the company will provide financial services for more than 100 its franchisers and clients around China. Besides, sources from General Motors Corporation (GM) reveal that they had accomplished the preparatory work for establishing the automotive finance company in May, and it is estimated that the finance company of GM...
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