BEIJING — China's revived car loan program is stalling due to red tape. A published report here says many would-be car buyers are discouraged when they learn from the bank that the car they plan to purchase cannot be used as security for the loan. Banks will accept only legal fixed assets such as treasury notes and deposit accounts as loan guarantees. Beijing banks will even accept the buyer's apartment. Potential buyers also complain of complicated loan applications, including a ...
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