Flex­i­ble car loan pol­icy un­der con­sid­er­a­tion

China Daily (Hong Kong) - - BUSINESS -

China is con­sid­er­ing a flex­i­ble loan pol­icy for car pur­chases to en­cour­age au­to­mo­bile con­sump­tion, a ma­jor driv­ing force for eco­nomic growth. The loan-to-value ra­tio of au­to­mo­bile pur­chases will be flex­i­ble and set ac­cord­ing to macroe­co­nomic and au­to­mo­bile in­dus­trial con­di­tions, ac­cord­ing to a draft de­ci­sion re­leased by the cen­tral bank and the top bank­ing reg­u­la­tor on Tues­day. Pre­vi­ously, con­sumers could only bor­row up to 80 per­cent of the to­tal car price from banks.

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