Investment News: Big Search Car Received 5 Billion Yuan Credit From Zhejiang Branch Of CCB

The big search vehicle signed a strategic cooperation agreement with Zhejiang branch of China Construction Bank (hereinafter referred to as "CCB Zhejiang branch") in Hangzhou.

According to the content of the agreement, the Zhejiang branch of CCB will provide RMB 5 billion yuan credit for large search vehicles and related enterprises in phases, and conduct in-depth cooperation in many fields such as automobile consumption finance, asset securitization, supply chain finance, public credit and so on.

It is reported that the Zhejiang branch of CCB will not only provide credit services, bond underwriting and investment, asset management, equity investment cooperation, mergers and acquisitions, etc.

SaaS will also link up with the big search car to empower the car dealers, make full use of their advantages in customers, funds, networks and businesses, deepen cooperation areas, create opportunities for development, and develop rich financial products and tools.

The promotion of large search vehicles in the field of vehicle circulation provides car dealers with technology empowerment, supply chain empowerment and service empowerment.

For the strategic cooperation with the Zhejiang branch of the CCB, Yao Junhong, founder and CEO of the search vehicle, said: "this strategic cooperation will bring strong financial empowerment to the search engine.

We will further strengthen the capital strength and financial services capabilities of the large search car, and provide more convenient and efficient vehicle financial services for the vast number of car dealers and users.

Public information shows that, as the Internet platform of the automotive industry, the big search car has obtained over 1 billion 200 million US dollars from Alibaba group, ant gold clothing, morning capital, Huaping investment, Chunhua capital and other institutions.

At present, the big search vehicle has digitized 90% of China's large second-hand car dealers, more than 9000 4S stores and more than 70000 new cars two nets.

In March 2019, the big search car and Taobao used car reached a strategic cooperation to further promote the development of new car retail, and improve the construction of industrial Internet ecosystem.