"Rules" What are the benefits to consumers
October 3, 11 long holiday period, has long been rumors of "auto finance company management approach" (hereinafter referred to as "the way") suddenly announced the implementation of the China Banking Regulatory Commission and the website published the "approach" the text.
This introduced the "measures" from the drafting of the second half of 2001 and October 8 last year, announced the "measures" on the basis of the draft amended from. "Measures" mainly from the auto finance company's market access conditions, business scope and supervision and management and legal responsibilities to make provisions, a total of 42 is divided into five chapters.
The China Banking Regulatory Commission official said, "to" The promulgation and implementation of China's accession to the World Trade Organization commitments, and regulate automobile consumption credit business management of important initiatives, will cultivate and promote the diversification of the main automobile financing business, automobile consumption The professionalization of the credit market have a positive and far-reaching impact.
It is learnt that in recent years, China was the individual car consumption loans soared situation in 2002 than in 1998 increased by 286 times. However, relative to vehicle speed the development of the consumer market, far from the scale of existing loans can not meet the needs of loans sold through the vehicle of the total sales of new vehicles less than 20 percent, with 70 percent of foreign far apart.
Car loan procedures will be simplified
"Measures" in the core content is built cars financial institutions, this means that the Chinese foreign cars will be fully liberalized. In future, consumers can purchase loans to some of GM, Ford, Volkswagen and other foreign financial companies for professional car.
Beijing Automotive Industry Development Research Institute Jia Xinguang, chief analyst believes that the domestic automobile financing company will mostly from Ford, GM, Volkswagen Automotive Group, and other transnational auto finance company to build. These companies have a complete set of specialized service system, so you can provide more comprehensive services.
For example, most of the automobile credit to charge several thousand dollars of loan guarantees or insurance, financial and professional auto companies is likely to avoid risks through professional security measures without charging fees. In addition, the loan formalities, may also be simplified.
That the benefits of auto finance company, many people will think of the United States "September 11" after GM, Ford and other companies to the zero-interest loans. In response, Jia Xinguang that, at present, China Motor Credit was not a zero-interest situation, according to central bank lending rate will remain the unified regulations.
A car dealer that specialized in auto finance company, will promote the development of automobile credit market, thus affecting the entire automobile market.
Foreign auto finance companies have little impact
Jia Xinguang, foreign investment in the auto finance company will significantly impact the existing car credit market. Yafei, Trade and Industry, and other grand auto loan business to a group of dealers have to face even greater pressure.
Jia Xinguang also said that as auto finance companies have a six-month period of examination and approval, so the domestic automobile financial market changes will start next year.
It is learnt that at present the domestic automobile credit There are two main forms, is a commercial bank to directly face the user's "straight off", and the other is from financial institutions through automobile dealers, users and indirectly the face of the "inter - - Off. "
These two forms have certain drawbacks. "Straight off" so that banks increase the risk, and, in the automotive business, the banks lack of professionalism. "Inter-off" Although the banks to reduce credit risk, but consumers and banks do not meet, leading dealers fool Napster ended March with 410,000 consumers in the matter. In addition, automobile financing companies and professional than rely on banks to earn a commission of the dealers, poor risk-control capability, can provide limited services.
In response, the China Banking Regulatory Commission official also said that China's auto consumption credit market and abroad compared to their late start, has been engaged in automobile consumption credit business is mainly commercial banks and auto finance companies of enterprise groups, the existing non - Bank financial institutions such as trust companies, financial leasing companies and other financial companies do not have professional for automobile consumption credit requirements.
"Measures" of the three major changes
And the draft a year ago compared to the "auto finance company management approach" ( "way") from the original six chapters 32 and 42 into the five chapters. Among them, there were three major changes.
A change: reducing barriers to entry
In the draft a year ago, in the access threshold requirements for: in the domestic automotive operations of financial institutions amounted to the minimum registered capital of 500 million yuan. And asked to take part in launching the establishment of financial institutions, auto companies need to meet the most recent year the total assets of not less than 8 billion yuan, profits for three consecutive years, and other conditions.
For such a "high threshold", then many people have raised objections. Some experts believe that the total assets of 8.0 billion, the majority of the domestic car dealer is a high enclosures, which have in fact be excluded, while foreign auto finance companies in this threshold, you can easily Crossed, in fact tantamount to limiting the nation's auto finance industry. And Ford Motor Credit, and other foreign companies that 500 million yuan of registered capital threshold is not low, they believe that China's automobile financing business conducted take some time, the beginning capital funds set too high, but the real volume of business Is not such a big, idle funds will be a significant cost.
Consider the views of all sides, in the October 3 "published by the auto finance company management", lower barriers to entry. Although or a "car finance companies amounted to the minimum registered capital of 500 million yuan," but the setting up of auto finance company's corporate legal persons is considerably lower threshold.
"Rules", the investor should have the condition that "non-financial institutions, the last year of its total assets of not less than 4 billion yuan or the equivalent amount in convertible currencies, annual revenue of not less than 2 billion yuan Or the equivalent amount in convertible currencies; non-bank financial institutions, their registered capital of not less than 300 million yuan or the equivalent amount in convertible currencies. "
From the total assets of 8-4 billion, the threshold drop by half. However, the "measures" also stressed that "to be the main investor in the automotive sector, non-bank financial institutions", and "the same corporate investment may not be more than one auto finance company."
Change 2: The narrow scope of business
Last year's draft and the implementation of the "approach", involving auto finance company's business scope of the provisions are eight, but careful comparison, there were three major differences:
First, the "methods" in the provisions of the automobile financing company can "to provide car loans business" and to delete the draft, "provides car rental business," the terms. This means that the domestic auto finance companies do not like foreign, can be carried out "to rent" such as leasing and related services; second, "to" remove the automobile finance company can "issuance of corporate bonds and commercial paper" The terms of three, the "measures" in the auto finance additional public
Secretary to the "transfer and sale of car loan receivables business."
In addition, the "measures" for loans from automobile dealers for the thinning, regulations, including procurement of vehicles, the exhibition hall construction, spare parts and maintenance equipment and so on from the auto finance company loans. This reduces the risk of funds automobile dealers, and car makers to more closely the relationship.
Change 3: Refinement of the legal responsibility
In the original draft, the penalty provisions rather ambiguous, this time in the "measures", more detailed provisions of a violation of the "measures", will be the punishment.
In these penalties, more important is that the provisions of the "without the China Banking Regulatory Commission approved the establishment of unauthorized or illegal auto finance company engaged in automobile financing business, from the China Banking Regulatory Commission banned according to law; constitute a crime , Shall be held criminally accountable; do not constitute a crime, by the China Banking Regulatory Commission confiscation of illegally acquired, in addition to more than five times the illegal gains 1 times the fine, not the illegal gains from the China Banking Regulatory Commission ordered the correction In addition to more than 100,000 yuan a fine of 500,000 yuan. "
At the same time, also provides that "without the China Banking Regulatory Commission approved, the unauthorized use of the name of 'automobile financing', 'Motor Credit', and so that the words in the automobile financing business, from the China Banking Regulatory Commission ordered its correction, In addition to 1,000 yuan fine. "These provisions, means that now relatively indiscriminate car credit market will be fundamental governance, many of unauthorized cars financial service providers will be banned.
In this regard, China Banking Regulatory Commission staff said that consumers should strengthen risk prevention and self-protection, consciously resist the illegal establishment of institutions for the illegal business of automobile loans, without consciously resist lowering interest rates, scope of business, such as ultra-vicious competition.
Auto finance company what to do
Auto finance company engaged in automobile consumption credit business and provide financial services related to the automotive professional bodies, foreign nearly a hundred years of history. Typically, auto finance companies belonging to the larger Automobile Group, a consumer vehicle to provide consumers with an important component of the service.
"Measures" clearly stipulates that the automobile financing companies in China for car buyers and sellers to provide loans of non-bank financial corporate entities. They have three meanings: First, the auto finance company is a kind of non-bank financial institutions, rather than the general auto enterprises, the second, auto finance company specializing in auto loan business, its business is different from banks and other non-bank financial institutions . Third, their clients identified as the Chinese mainland in the car buyers and sellers. Car buyers, including natural and legal persons and other organizations; auto sales is that specialized in sales of motor vehicles dealers, not including car manufacturers and other forms of sellers.
"Rules", approved by the China Banking Regulatory Commission, auto finance companies can engage in some or all of the following operations: (1) shareholders to accept units in the three-month period of deposit, (2) to provide car loans business, (3 ) Purchase of vehicles for automobile dealers operating loans and equipment loans (including loans and the building of the Exhibition Hall, spare parts and maintenance equipment loans loans, etc.), (4) the transfer and sale of car loan receivables business (5) borrowing from financial institutions; (6) to provide car loans secured; (7) and car financing activities related to the agency business, (8) by the China Banking Regulatory Commission approval of the other credit services, etc..
October 3, 11 long holiday period, has long been rumors of "auto finance company management approach" (hereinafter referred to as "the way") suddenly announced the implementation of the China Banking Regulatory Commission and the website published the "approach" the text.
This introduced the "measures" from the drafting of the second half of 2001 and October 8 last year, announced the "measures" on the basis of the draft amended from. "Measures" mainly from the auto finance company's market access conditions, business scope and supervision and management and legal responsibilities to make provisions, a total of 42 is divided into five chapters.
The China Banking Regulatory Commission official said, "to" The promulgation and implementation of China's accession to the World Trade Organization commitments, and regulate automobile consumption credit business management of important initiatives, will cultivate and promote the diversification of the main automobile financing business, automobile consumption The professionalization of the credit market have a positive and far-reaching impact.
It is learnt that in recent years, China was the individual car consumption loans soared situation in 2002 than in 1998 increased by 286 times. However, relative to vehicle speed the development of the consumer market, far from the scale of existing loans can not meet the needs of loans sold through the vehicle of the total sales of new vehicles less than 20 percent, with 70 percent of foreign far apart.
Car loan procedures will be simplified
"Measures" in the core content is built cars financial institutions, this means that the Chinese foreign cars will be fully liberalized. In future, consumers can purchase loans to some of GM, Ford, Volkswagen and other foreign financial companies for professional car.
Beijing Automotive Industry Development Research Institute Jia Xinguang, chief analyst believes that the domestic automobile financing company will mostly from Ford, GM, Volkswagen Automotive Group, and other transnational auto finance company to build. These companies have a complete set of specialized service system, so you can provide more comprehensive services.
For example, most of the automobile credit to charge several thousand dollars of loan guarantees or insurance, financial and professional auto companies is likely to avoid risks through professional security measures without charging fees. In addition, the loan formalities, may also be simplified.
That the benefits of auto finance company, many people will think of the United States "September 11" after GM, Ford and other companies to the zero-interest loans. In response, Jia Xinguang that, at present, China Motor Credit was not a zero-interest situation, according to central bank lending rate will remain the unified regulations.
A car dealer that specialized in auto finance company, will promote the development of automobile credit market, thus affecting the entire automobile market.
Foreign auto finance companies have little impact
Jia Xinguang, foreign investment in the auto finance company will significantly impact the existing car credit market. Yafei, Trade and Industry, and other grand auto loan business to a group of dealers have to face even greater pressure.
Jia Xinguang also said that as auto finance companies have a six-month period of examination and approval, so the domestic automobile financial market changes will start next year.
It is learnt that at present the domestic automobile credit There are two main forms, is a commercial bank to directly face the user's "straight off", and the other is from financial institutions through automobile dealers, users and indirectly the face of the "inter - - Off. "
These two forms have certain drawbacks. "Straight off" so that banks increase the risk, and, in the automotive business, the banks lack of professionalism. "Inter-off" Although the banks to reduce credit risk, but consumers and banks do not meet, leading dealers fool Napster ended March with 410,000 consumers in the matter. In addition, automobile financing companies and professional than rely on banks to earn a commission of the dealers, poor risk-control capability, can provide limited services.
In response, the China Banking Regulatory Commission official also said that China's auto consumption credit market and abroad compared to their late start, has been engaged in automobile consumption credit business is mainly commercial banks and auto finance companies of enterprise groups, the existing non - Bank financial institutions such as trust companies, financial leasing companies and other financial companies do not have professional for automobile consumption credit requirements.
"Measures" of the three major changes
And the draft a year ago compared to the "auto finance company management approach" ( "way") from the original six chapters 32 and 42 into the five chapters. Among them, there were three major changes.
A change: reducing barriers to entry
In the draft a year ago, in the access threshold requirements for: in the domestic automotive operations of financial institutions amounted to the minimum registered capital of 500 million yuan. And asked to take part in launching the establishment of financial institutions, auto companies need to meet the most recent year the total assets of not less than 8 billion yuan, profits for three consecutive years, and other conditions.
For such a "high threshold", then many people have raised objections. Some experts believe that the total assets of 8.0 billion, the majority of the domestic car dealer is a high enclosures, which have in fact be excluded, while foreign auto finance companies in this threshold, you can easily Crossed, in fact tantamount to limiting the nation's auto finance industry. And Ford Motor Credit, and other foreign companies that 500 million yuan of registered capital threshold is not low, they believe that China's automobile financing business conducted take some time, the beginning capital funds set too high, but the real volume of business Is not such a big, idle funds will be a significant cost.
Consider the views of all sides, in the October 3 "published by the auto finance company management", lower barriers to entry. Although or a "car finance companies amounted to the minimum registered capital of 500 million yuan," but the setting up of auto finance company's corporate legal persons is considerably lower threshold.
"Rules", the investor should have the condition that "non-financial institutions, the last year of its total assets of not less than 4 billion yuan or the equivalent amount in convertible currencies, annual revenue of not less than 2 billion yuan Or the equivalent amount in convertible currencies; non-bank financial institutions, their registered capital of not less than 300 million yuan or the equivalent amount in convertible currencies. "
From the total assets of 8-4 billion, the threshold drop by half. However, the "measures" also stressed that "to be the main investor in the automotive sector, non-bank financial institutions", and "the same corporate investment may not be more than one auto finance company."
Change 2: The narrow scope of business
Last year's draft and the implementation of the "approach", involving auto finance company's business scope of the provisions are eight, but careful comparison, there were three major differences:
First, the "methods" in the provisions of the automobile financing company can "to provide car loans business" and to delete the draft, "provides car rental business," the terms. This means that the domestic auto finance companies do not like foreign, can be carried out "to rent" such as leasing and related services; second, "to" remove the automobile finance company can "issuance of corporate bonds and commercial paper" The terms of three, the "measures" in the auto finance additional public
Secretary to the "transfer and sale of car loan receivables business."
In addition, the "measures" for loans from automobile dealers for the thinning, regulations, including procurement of vehicles, the exhibition hall construction, spare parts and maintenance equipment and so on from the auto finance company loans. This reduces the risk of funds automobile dealers, and car makers to more closely the relationship.
Change 3: Refinement of the legal responsibility
In the original draft, the penalty provisions rather ambiguous, this time in the "measures", more detailed provisions of a violation of the "measures", will be the punishment.
In these penalties, more important is that the provisions of the "without the China Banking Regulatory Commission approved the establishment of unauthorized or illegal auto finance company engaged in automobile financing business, from the China Banking Regulatory Commission banned according to law; constitute a crime , Shall be held criminally accountable; do not constitute a crime, by the China Banking Regulatory Commission confiscation of illegally acquired, in addition to more than five times the illegal gains 1 times the fine, not the illegal gains from the China Banking Regulatory Commission ordered the correction In addition to more than 100,000 yuan a fine of 500,000 yuan. "
At the same time, also provides that "without the China Banking Regulatory Commission approved, the unauthorized use of the name of 'automobile financing', 'Motor Credit', and so that the words in the automobile financing business, from the China Banking Regulatory Commission ordered its correction, In addition to 1,000 yuan fine. "These provisions, means that now relatively indiscriminate car credit market will be fundamental governance, many of unauthorized cars financial service providers will be banned.
In this regard, China Banking Regulatory Commission staff said that consumers should strengthen risk prevention and self-protection, consciously resist the illegal establishment of institutions for the illegal business of automobile loans, without consciously resist lowering interest rates, scope of business, such as ultra-vicious competition.
Auto finance company what to do
Auto finance company engaged in automobile consumption credit business and provide financial services related to the automotive professional bodies, foreign nearly a hundred years of history. Typically, auto finance companies belonging to the larger Automobile Group, a consumer vehicle to provide consumers with an important component of the service.
"Measures" clearly stipulates that the automobile financing companies in China for car buyers and sellers to provide loans of non-bank financial corporate entities. They have three meanings: First, the auto finance company is a kind of non-bank financial institutions, rather than the general auto enterprises, the second, auto finance company specializing in auto loan business, its business is different from banks and other non-bank financial institutions . Third, their clients identified as the Chinese mainland in the car buyers and sellers. Car buyers, including natural and legal persons and other organizations; auto sales is that specialized in sales of motor vehicles dealers, not including car manufacturers and other forms of sellers.
"Rules", approved by the China Banking Regulatory Commission, auto finance companies can engage in some or all of the following operations: (1) shareholders to accept units in the three-month period of deposit, (2) to provide car loans business, (3 ) Purchase of vehicles for automobile dealers operating loans and equipment loans (including loans and the building of the Exhibition Hall, spare parts and maintenance equipment loans loans, etc.), (4) the transfer and sale of car loan receivables business (5) borrowing from financial institutions; (6) to provide car loans secured; (7) and car financing activities related to the agency business, (8) by the China Banking Regulatory Commission approval of the other credit services, etc..
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