Recently, Postal Savings Bank of China (PSBC) and Chery Automobile Sales Company (hereafter referred to as Chery Automobile) signed a new retail cooperation agreement on automobile consumption loans. The two sides will jointly carry out comprehensive cooperation in the field of auto finance, share superior resources, and provide comprehensive and convenient auto purchase and auto loan services for customers all over the country, especially those at the county level.
For the cooperation with Chery Automobile, PSBC will take advantage of its nationwide outlets to stage “Chery auto purchase day” theme activities. Through this kind of micro auto shows, PSBC will offer a series of on-site services such as new car display, car selection, purchase, rental and auto loan consulting services, all of which will be designed to cater to the auto purchase needs of the local residents, making auto loan policy more favorable to them, and providing them with one-stop auto finance experience service near their residence.
Relying on the far-reaching multi-business network and the powerful channel resources provided by China Post Group's logistics, e-commerce and other services, PSBC is deeply exploring the field of auto finance. At the same time, Chery Automobile is also planning and gradually constructing its new retail channels, and exploring approaches to auto new retail. With the rapid development of the domestic auto industry, China's auto consumption is rapidly extending to third- and fourth-tier cities, counties and towns, which presents new opportunities for the auto retail market. As of the end of May 2019, PSBC had had nearly 40,000 outlets and 587 million personal customers, with the outlets covering 99% of counties (county-level cities) in China. With the extension of auto sales channels, these have become the prominent advantages of PSBC in serving the automobile industry and providing auto financial services accordingly.
The PSBC will adapt to the new trend of consumption upgrading. Giving full play to its network advantages, it will work with Chery Automobile to promote the rapid development of the auto loan service, and jointly foster a new financial ecosystem of auto retail industry, thus providing the consumers with faster and more convenient financial services and facilitating their better life.