Bank of China issues more auto loans in 2008
Individual auto loans released by the Bank of China (BOC) increased five billion yuan to an outstanding of 39.3 billion yuan ($5.75 billion) at the end of 2008, snatching a market share of over 30 percent in China, according to the latest statistics by the bank.
It ranked first in individual auto loan service in the banking sector.
With over ten thousand branches, years of market experience and cooperation with first-class automakers, the bank has developed more than a million auto loan customers, according to an official from the bank.
China has now become the third largest auto producer and second largest consumer in the world, with auto sales hitting 9.4 million units last year.
The country unveiled an auto stimulus package on January 14, providing a great chance for development of individual auto loan business.
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