After getting a house, people switch their attention to the private cars. That is just what the various Chinese banks want. With its role consolidated in the part of housing loans, these banks now focus their attention on the promising private car loans. Yesterday, the Construction Bank of China (CBC), Shanghai Branch introduced 10 preferential policies so as to win a part in the private car loans before the foreign non-financial organizations take any action.
It has been predicted by those from the banks that the foreign non-financial organizations would probably concentrate on its convenient application procedures and preferential interest rates after they succeed in getting into the market of the private car loans. Therefore, the CBC is taking the 10 preferential policies, something developed to sharpen its edge over the foreign opponents, in an effort to raise its share in the private car loans, from 30% to 50% and even more.