CHENGDU, Feb. 7 (NBD) -- China's automotive finance assets totaled 419.06 billion yuan (61.08 billion US dollars) at the end of 2015, representing a 70-fold increase from 6.27 billion yuan (913.94 million US dollars) in late 2005. 

There have been 25 automotive finance companies in the country to date. 

Data shows that BMW Automotive Finance (China) Co., Ltd.'s assets jumped 75% to 88.87 billion yuan (12.95 billion US dollars) last year, beating SAIC-GMAC Automotive Finance Company. 

Despite fierce competition, automotive finance companies kept a strong growth momentum thanks to the rise of young car buyers, increased adoption of automotive loan programs, improved individual credit rating system, expansion of financing channels, and ever-improving laws and regulations. 

Email: lansuying@nbd.com.cn