China Auto Logistics Inc announced a series of agreements with several leading Chinese banks and insurers which it expects will permit further rapid expansion of its auto related services businesses including a new service of providing auto insurance to individual consumers and dealers.

The Company reported it has now concluded cooperation agreements with five of the leading auto insurance providers in China under which the Company will be qualified to offer automobile insurance to purchasers of automobiles in its auto mall, the largest imported luxury auto mall in Tianjin.

Mr Tong Shiping CEO and chairman of China Auto Logistics said that "Auto insurance is particularly important to buyers of the luxury cars we sell and we now will be able to offer the very best insurance packages to our customers. We see this as an excellent addition to the 'one stop services' we currently provide and further expect it will attract new customers and help boost our luxury auto sales in this very strong market."

Mr Tong said that discussions regarding final details on how to best execute the agreements with each insurer are in progress and the new service is expected to be launched shortly.