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PBOC Could Support Consumer Finance Firms To Raise Funds

CHINA PRESS
MNI (Singapore)

The People’s Bank of China intends to support consumer finance firms and automobile finance companies in issuing financial bonds and asset-backed securities (ABS) to raise funds for developing new consumer credit products, financial news agency Cls.cn has reported, citing anonymous sources close to the central bank. The first batch of eight companies including Merchants Union Consumer Finance, BOC Consumer Finance, Zhongyou Consumer Finance and BYD Auto have initially communicated with CICC, CITIC Securities, and CMSC to issue around CNY50 billion of bonds and ABS. (Source: Cls.cn)

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