Ford to Enter China Auto Credit Business

Sources in Ford Motor Company said that, availing the chance of China's entry into the WTO, the company would set up a non-bank financial institution to be specially engaged in motor storage financing and consumer credit business, the institution would be invested by the famous Ford Credit Company.

As learned from Liao Shunsheng, chief representative of Beijing Ford Credit Company, with the Sino-US agreements signed for China's entry into the WTO and China has stepped up its efforts in achieving it, foreign companies are going to develop auto financing business in China after its entry into the WTO. It is estimated that China may join the WTO by the middle of this year.

By the time China's auto market will become more active. After the introduction of advanced experience of foreign-invested enterprises, consumer credit will be further developed. So far, cooperating with the People's Bank of China, Ford Credit Company is now setting up an auto credit company, thus introducing the most advanced auto financing experience and technology to China. Ford also plans to develop auto e-commerce trade in China.

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