ESG Trends
【Access to Finance】China CITIC Bank launched the first new scenariofor inclusive finance - “Used Car Market Dealer’s Loan”
- Source：China Citic Bank
- Release time：2023-08-21
Recently, China CITIC Bank Chengdu Branch granted the first “Used Car Market Dealer’s Loan” to a dealer in the used car market, launching a new scenario of assisting the industry development through the auto finance + inclusive finance business.
Since the implementation of the new policy on used cars on January 1, 2023, the used car transaction dominated by the individual broker model is destined to become a thing of the past, and the used car industry has entered a high-quality development stage dominated by the enterprise distribution model. China CITIC Bank Chengdu Branch is keenly aware of the potential demand under the new policy of the industry. Relying on several rounds of deep communication and survey on the current market status of a group in the used car market and the financing demand of car dealers, it designed the “Used Car Market Dealer’s Loan” auto finance + inclusive finance service program by controlling the capital flow with the “purchase, management and sale” of used cars in stock as the main line. As the project is implemented, China CITIC Bank Chengdu Branch has made a breakthrough in the construction of new inclusive finance scenarios, opening new ways of thinking about inclusive finance services.
In the next step, China CITIC Bank will continue to implement China’s decisions and arrangements for supporting the development of the real economy, and further serve small, medium and micro enterprises by taking the opportunity of the successful introduction of “Used Car Market Dealer’s Loan”.