Caixin
Mar 12, 2024 05:58 AM
FINANCE

NFRA Seeks to Accelerate New Energy Vehicle Sales by Cutting Loan Down Payments

00:00
00:00/00:00
Listen to this article 1x
Li Yunze
Li Yunze

New measures to reduce the size of down payments needed for car loans are being explored by authorities. Financial institutions are also being encouraged to support tech startups as part of broader efforts to create driving forces for economic growth, according to China’s top financial regulator.

“We are currently working on lowering the down payment for passenger car purchase loans and improving the insurance policies for new energy vehicles (NEVs) to encourage more households to buy cars, said Li Yunze, head of the National Financial Regulatory Administration (NFRA), the successor of the China Banking and Insurance Regulatory Commission.

loadingImg
You've accessed an article available only to subscribers
VIEW OPTIONS

Unlock exclusive discounts with a Caixin group subscription — ideal for teams and organizations.

Subscribe to both Caixin Global and The Wall Street Journal — for the price of one.

Share this article
Open WeChat and scan the QR code
NEWSLETTERS
Get our CX Daily, weekly Must-Read and China Green Bulletin newsletters delivered free to your inbox, bringing you China's top headlines.

We ‘ve added you to our subscriber list.

Manage subscription
PODCAST
Caixin Deep Dive: Former Securities Regulator Yi Huiman’s Corruption Probe
00:00
00:00/00:00