China mulls lowering downpayment requirement for car loans, says financial regulator

China is considering lowering the downpayment requirement for passenger vehicle loans, Li Yunze, head of the National Financial Regulatory Administration (NFRA), said on Monday. Li made the comments while taking media questions at a ministers' corridor after the closing of the annual meeting of China's parliament.

Traditional car purchases are entitled to a minimum 20% downpayment in China, while the lowest downpayment for new energy vehicle purchases is set at 15%.