UPDATE 1-GM launches China's maiden car loans firm

Newswire

(Adds details, quotes) By Ben Blanchard SHANGHAI, Aug 18 (Reuters) - General Motors Corp. , the world's top carmaker, launched China's first auto financing venture on Wednesday to drive growth in a market expected to be the company's largest this year after the United States. GM's venture with Shanghai Automotive Industry Corp. has made its first customer loan, beating foreign rivals in a race to enter a largely untapped $22 billion market. Volkswagen AG is still waiting for a ...

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