Joint venture between Pugeot and Bank of China

Written by: S.M.Mehdi Hassan
Peugeot Citroen Automobile Corporation and Bank of China will launch a joint venture auto financing project. The name of the project will be Dongfeng Peugeot Citroen Auto Finance Company Limited. According to the report published in Forbes the total capital of this project is 500 million Chinese yuan. This venture won the approval of China Banking Regulatory Commission in August 2005. The major shareholders in this joint venture are Bank of China (50%), Banque PSA Finance (25%), and Dongfeng Peugeot Citroen Automobile Company Limited (25%). An official of Dongfeng Peugeot Citroen Auto Finance Company Limited said that the company would start its operation from July.

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