China | Auto Finance News | Page 3 | Auto Finance News - Part 3

New China ABS Rules to Spur Lease Issuance Growth

New regulatory supervisory structures in China will reduce the risk of issuing auto-lease backed securities on the secondary market, and Moody’s Investor Services anticipates the change will increase volume. Although in the short-term regulations will be more stringent on certain companies, ultimately in the long term, the changes should increase growth, according to Moody’s.   […]

China Plans to Lift Ownership Restrictions for Carmakers

China announced the phaseout of a two-decades-old policy that requires foreign manufacturers share their factory ownership and profits with Chinese companies, the government announced Tuesday. However, financial arms still remain beholden to the joint venture rules. The National Development and Reform Commission announced that ownership caps will be dropped for companies making fully electric and […]
  • William Hoffman
  • April 17, 2018

China to Open Up to Foreign Ownership in Auto Finance, Central Bank Says

China delivered more specifics on how it plans to open up the country’s financial services sector by yearend, which will include the encouragement of foreign ownership in auto finance, the central bank announced in a press release today. On Tuesday, President Xi Jinping made a broad announcement about China’s efforts to expand reforms and open […]
  • William Hoffman
  • April 11, 2018

Chinese Ride-Hail to Raise $1.6B ABS for Lease Partners

Chinese ride-hailing company Didi Chuxing received approval this week from the Shanghai Stock Exchange to securitize $1.6 billion of leases originated by some of its partners. Didi acts as a middleman between leasing companies and Didi’s ride-hail drivers. The timing of the first $47 million issuance is unknown. “The [leasing] companies can use the funds […]

Asian Rideshare Rolls Micro-Lending Into Platform

Grab, a Southeast Asian rideshare company and online financial services platform introduced micro-loans and insurance options on Tuesday for Grab drivers and businesses. For the new offering, Grab formed a joint venture — called Grab Financial Services Asia — with Japanese credit card company Credit Saison. Separately, U.S.-based insurer Chubb signed on as a partner. […]

Toyota Captive Seeks Penetration Growth in Slowing Chinese Market

Toyota Motor Finance China (TMFCN) aims to grow originations to 22% of Toyota and Lexus vehicles sold in China, Auto Finance News has learned. That compares with a 21% penetration rate — or 273,000 vehicles — in 2017. Though China has been the largest new-car sales market since 2009, its finance rate is only about […]

Nissan Chinese Captive Issues First Securitization of 2018 Amid Bull ABS Market

Dongfeng-Nissan Auto Finance Co. (DNAF) released its first securitization of 2018, and just as the China ABS market is heating up, according to Moody’s Investors Service. The portfolio consists of renminbi-denominated floating-interest-rate auto loans granted by DNAF to private individuals in China. The renminbi is the official currency of China and converts to a portfolio balance […]
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