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Commercial vehicle industry to benefit from deregulation of loan rate

  The People’s Bank of China (PBC) deregulated loan rate of financial institutions as of July 20, 2013 to further marketize the country’s loan system. Financial institutions are no longer required to meet the 0.7 minimum interest rates for commercial loans. According to an executive of the PBC, this reform

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China Auto Rental announces Cloud Strategy and partnership with David Beckham

BEIJING – China Auto Rental Holdings, Inc. (CAR), China’s largest car rental service provider, announced here on June 23 its Cloud Strategy, the focus of a five-year plan action involving implementation of technology RD, product design and service optimization. It also reached a partnership agreement with soccer star David Beckham,

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Zeng Qinghong: insurance coverage for luxury cars should be capped

There should be a limit in insurance coverage for luxury cars to relieve financial burden of ordinary vehicle owners who are at fault in accidents involving luxury cars, proposed Zeng Qinghong, member of NPC and president of Guangzhou Automobile Group Corp. (GAC). Whatever compensation outside the maximum coverage should be

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Scania to offer financing to Chinese customers via tie-up with Volkswagen Finance (China)

BEIJING – Scania began offering financial solutions to Chinese customers on January 1 of this year through a strategic alliance recently established between Scania Sales (China) Co., Ltd. and Volkswagen Finance (China) Co., Ltd., according to a Scania statement. The Swedish truck and bus maker hopes that the tie-up will

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