Rearview mirror: Car industry's hot topics in 2017

China Daily | Updated: 2018-01-08 13:19
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Visitors pass by the auto finance area of China International Financial Exhibition held in Beijing, Sept 8, 2016. [Photo/VCG]

10. Loan policies revised to spur e-car buyers

New loan policies for car purchases were issued in November, allowing buyers of new energy vehicles to borrow a larger portion of the purchase price.

Starting in 2018, electric car buyers can borrow up to 85 percent of the cost from banks, according to the People's Bank of China and the China Banking Regulatory Commission.

The maximum loan for cars using traditional fuel is set at 80 percent.

The purchase of fossil-fuel cars and electric vehicles for commercial use will enjoy lower loan ratios of 70 percent and 75 percent, respectively.

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