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Uxin Announces Strategic Partnership with Wuhan City Economic & Technological Development Zone
Uxin (Nasdaq: UXIN), China's leading used car retailer, has announced a strategic partnership with Wuhan City Economic & Technological Development Zone. The company will establish a joint venturewith Wuhan Junshan Urban Asset Operation Co., , a company indirectly controlled by the development zone.
Uxin's subsidiary, Uxin (Anhui) Industrial Investment Co., , will contribute RMB66.7 million (66.7% ownership), while Wuhan Junshan will contribute RMB33.3 million(33.3% ownership) to the joint venture. The partnership aims to support Uxin's plan to establish a new used car super store in Wuhan City, Hubei Province.
Wuhan, one of China's top ten cities, has a population of about 12 million, a GDP of approximately RMB2.0 trillion, and a car volume exceeding 4 million. This collaboration is important for Uxin to promote the development of the automotive aftermarket industry in Hubei Province and build a leading brand in China's used car industry.
Uxin's subsidiary, Uxin (Anhui) Industrial Investment Co., , will contribute RMB66.7 million (66.7% ownership), while Wuhan Junshan will contribute RMB33.3 million(33.3% ownership) to the joint venture. The partnership aims to support Uxin's plan to establish a new used car super store in Wuhan City, Hubei Province.
Wuhan, one of China's top ten cities, has a population of about 12 million, a GDP of approximately RMB2.0 trillion, and a car volume exceeding 4 million. This collaboration is important for Uxin to promote the development of the automotive aftermarket industry in Hubei Province and build a leading brand in China's used car industry.
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shane0319 : Means more money invest into uxin?