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Ant Financial in Crosshairs as China Proposes Regulation of Holding Companies

China’s central government is considering regulations that would slow growth rates for financial holding companies, including auto lenders such as Ant Financial, Bloomberg News reported Monday. The government has long promoted growth but is shifting into “risk-control mode” amid concerns that Ant Financial has become too big to fail, according to the report. The proposed regulations […]

Chinese Auto Lessor Expands Reach to 1,700 Dealerships

Chinese car retail website SouChe has expanded its auto financing product called TanGeChe to more than 200 cities to reach 1,700 car dealers after launching earlier last year, parent company SouChe announced in a press release. SouChe launched TanGeChe in conjunction with fintech company Ant Financial. In addition to building up its dealer network over the […]

Alibaba Looks to Expand Into Auto Finance With Latest Investment

Alibaba Group Holding Ltd. led a $335 million Series E funding round for Chinese car trading website SouChe.com, hinting at the e-commerce company’s auto finance ambitions. SouChe (meaning “Search Car” in Chinese) sells used cars from dealers across the country and provides financing for customers to buy new vehicles for a year, which he or she […]