Vehicles travel along the Third Ring Road in Beijing on December 29, 2022. Photo: Bloomberg
Vehicles travel along the Third Ring Road in Beijing on December 29, 2022. Photo: Bloomberg

China’s bank regulator issues rules to tighten oversight on car-finance firms, custody services within commercial banks

  • Car-finance firms will have to exit the equity-investment business, but will be allowed to expand overseas and to finance add-on products like warranties
  • The China Banking and Insurance Regulatory Commission on Thursday also outlined new rules controlling commercial banks’ custody services

Vehicles travel along the Third Ring Road in Beijing on December 29, 2022. Photo: Bloomberg
Vehicles travel along the Third Ring Road in Beijing on December 29, 2022. Photo: Bloomberg
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