Santander has received regulatory approval from the Chinese government to operate as an independent car financing company in China.

The bank will operate through its Fortune Auto Finance joint venture with Anhui Jianghuai Automobile Company (JAC), of which both companies own a 50% stake.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

Fortune Auto Finance will have initial capital of 500m RMB (£49.84m), and loans will not be restricted to JAC products.

Santander announced the joint venture in 2011, and the news means it now has access to the world’s largest automobile market, as well as the 14 countries it already operates in.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.