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Article: Ford Credit Wins Initial Approval to Enter China Auto Finance Market.
- Article from:
- PR Newswire
- Article date:
- August 2, 2004
CopyrightCOPYRIGHT 2004 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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- Ford Credit to provide loans to Ford Motor Company dealers and their customers - Plan includes investment of US $60 million/Renminbi (RMB) 500 million
Ford Motor Credit Company today announced that the banking authority in China, the China Banking Regulatory Commission, has approved the company's initial application to provide auto financing in China.
Ford Credit plans to offer financing to consumers and to the more than 100 Ford dealers in China. Ford Credit, which will do business as Ford Automotive Finance in China, plans to invest an initial $60 million, or RMB 500 million, for capital requirements and other needs.
"China is an important ...