Ford Motor Credit Co. says the China Banking Regulatory Commission (CBRC), China’s banking authority, has given its initial approval for entry into the country. Ford Credit plans to offer financing to Chinese consumers through more than 100 local Ford dealers and will do business in the country as Ford Automotive Finance in China. Initial investment toward capital requirements and other needs is pegged at RMB500 million ($60.4 million). “China is an important market for Ford Motor Co., ...
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