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VW Finance sees boost from China reserves policy move
2015-08-28 11:09:02| Auto Dealers - Topix.net
When China's central bank singled out auto financing companies for extra help on Tuesday, it effectively freed up more than 200 million yuan for Volkswagen AG's China finance unit, which it can use to boost falling car sales, a top official said on Friday. Along with a cut in benchmark lending rates, the People's Bank of China cut the amount of reserves financial institutions need to hold by half a percentage point, but topped that up to 3.5 percentage points for auto financing.
Tags: policy
china
finance
move
Category:Automotive