Avis rolls into China with $22 mln venture

Newswire

SHANGHAI, Dec 19 (Reuters) - Avis Europe Plc said on Thursday it would open China's first joint-venture car rental agency by teaming up with the country's largest car hire firm, Anji Car Rental Company, in an investment worth $22 million. The European car rental giant and its Chinese partner said in a statement that the 50-50 venture, called Anji Car Rental and Leasing Co Ltd, would launch operations from a base in eastern China in January 2003 and expand throughout the country. The ...

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