China is working on new policy on perfecting the auto consumption credit so as to inject new dynamism into its auto market. The new policy is expected to be unveiled within the year.

Xu Changming, director of Information Resources Department under the State Information Center, told the press that related government departments are now drafting new rules to promote the auto consumption credit system through auto finance companies.

According to Chen Dongsheng, deputy secretary general of the China Automobile Dealers Association, his organization supports perfecting the auto consumption credit system and encourages further cooperation between automakers and banks.

Simultaneously, the consumption of auto financing is surging amid a better auto market in China during the first half of 2009.

Actually, it was clearly mentioned in the auto industry booster plan previously unveiled this year that China would strive to improve the auto consumption credit system, which was favorable news for domestic auto finance companies.

Source : english.chinabuses.com

Editor : July

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Tags: China Policy Auto Consumption Credit