The People's Bank of China (PBOC) and the National Financial Regulatory Authority (NFRA) have announced significant adjustments to the car loan policies, aimed at stimulating the automotive sector, particularly focusing on the new energy vehicles (NEV) market. Financial institutions are now permitted to independently set the minimum down payment for car loans, effectively scrapping mandates on the lowest down payments. Specific guidelines for NEVs and commercial gasoline vehicles have been issued: the lowest down payment for new energy vehicle loans has been set at 25%, while for commercial gasoline car loans, it is at 30%. Additionally, the maximum loan ratio for commercial NEVs has been relaxed to up to 75% of the car price, and for used cars, up to 70% of the car price. This move is part of a broader strategy to boost consumption within the country.
China scraps mandates on down payments for personal car loans https://t.co/I99Dhxh7DP https://t.co/sOfCM41S1o
China relaxes the loan ratios for personal vehicle purchases as the country seeks to boost its automotive sector, particularly electric vehicles. https://t.co/rOmITQ0T70
China scraps mandates on down payments for personal car loans https://t.co/05i6IaSHw9 https://t.co/7dtbQDAXoO
⚠️ CHINA SCRAPS MANDATES ON DOWN PAYMENTS FOR PERSONAL CAR LOANS Full Story → https://t.co/9zhlk9nc8s China's central bank on Wednesday unveiled revisions to car loans, scrapping mandates on the lowest down payments on loans granted to borrowers buying new cars for private…
China relaxes the loan ratios for personal vehicle purchases as the country seeks to boost its automotive sector, particularly electric vehicles. https://t.co/XfG0ehlcpD
🇨🇳 #China Relaxes Loan Ratio for Vehicle Purchases - Statement - The maximum loan for commercial NEV is relaxed to up to 75% of the car price, the People’s Bank of China says. *Maximum loan for used cars is relaxed to up to 70% of the car price https://t.co/oNjNDu8tqq
Global | China relaxes loan ratio for vehicle purchases: Agencies https://t.co/JWiLzQxmGI
CHINA CENTRAL BANK: THE LOWEST DOWNPAYMENT FOR NEW ENERGY VEHICLE LOANS SET AT 25%
CHINA CENTRAL BANK: THE LOWEST DOWNPAYMENTS ON COMMERCIAL GASOLINE CAR LOANS SET AT 30%
JUST IN CHINA'S #PBOC and NFRA RELAXED LOAN RATIO FOR VEHICLE PURCHASES TO BOOST CONSUMPTION.
CHINA CENTRAL BANK: FINANCIAL INSTITUTIONS CAN INDEPENDENTLY DETERMINE THE LOWEST DOWNPAYMENT ON CAR LOANS
🇨🇳 #CHINA | #PBOC RELEASES STATEMENT ON CAR LOANS ADJUSTMENT - BBG *CHINA RELAXES LOAN POLICY FOR NEV PURCHASE