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| Name | Symbol | Market | Type |
|---|---|---|---|
| Bank East Asia Ltd (PK) | USOTC:BKEAY | OTCMarkets | Depository Receipt |
| Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 1.25 | 1.21 | 1.31 | 42 | 21:03:10 |
From Jun 2019 to Jun 2024
By Joanne Chiu
China's regulators have approved a plan by Brilliance China Automotive Holdings Ltd. (1114.HK) to set up an auto-financing joint venture with Hong Kong's Bank of East Asia Ltd. (0023.HK) and Spain's CaixaBank S.A. (CAIXY) in the country.
Brilliance-BEA Auto Finance Co., 55% owned by the Hong Kong-listed Chinese car maker, will focus on financing dealers for the purchase of automobiles and providing car loans to individuals and companies, it said Wednesday.
Bank of East Asia and CaixaBank each hold a 22.5% stake in the joint venture, it added.
Brilliance China, which produces BMW cars in China under a joint venture with the Germany' s BMW AG (BMW.XE), said it would continue to explore business co-operation opportunities with its joint venture partners in the automobile industry.
Write to Joanne Chiu at joanne.chiu@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
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