Cross-Straits firms establish consumer finance joint venture in Xiamen

Jinmeixin Consumer Finance Co, the first joint venture of its kind capitalized by companies from Chinese mainland and Taiwan, is set up in Xiamen, East China's Fujian province on Oct 22. [Photo/xmnn.cn]

Jinmeixin Consumer Finance Co, the first joint venture of its kind capitalized by companies from Chinese mainland and Taiwan, was founded in Xiamen, East China's Fujian province on Oct 22.

With a total registered capital of 500 million yuan ($72.05 million), the company was established by CTBC Bank Co, the largest privately-owned bank in Taiwan, Xiamen FIG Group, a State-owned company, and Gome Holdings Group, one of the largest privately owned electrical appliance retailers in Chinese mainland.

The CTBC Bank Co contributed 170 million yuan, and the two other companies financed 165 million yuan each.

Li Zhangwei, Jinmeixin's general manager, said at the opening ceremony that introducing Taiwan companies to Chinese mainland's consumer finance sector will help further cross-Straits financial cooperation.

The general manager added that Jinmeixin is dedicated to developing consumer finance and offering a more convenient and efficient financial service to its individual clients.

At the opening ceremony, the company launched three products for different clients.

Quick Loan targets young clients with the fastest transfer speed of 30 minutes; Dailylife Loan offers a maximum loan of 200,000 to clients who have good credit; Consumer Loan provides home delivery and deferred payment services to residential users.