Consumer finance is not a loan platform, it refers to a financial service model that provides consumer loans to consumers at all levels.
Supplementary information:
Consumer Finance Company is a non-bank financial institution established with the approval of China Banking Insurance Regulatory Commission, which provides loans for consumers in China. For example, Gitzo Consumer Finance, Instant Consumer Finance, Zhongyuan Consumer Finance, China Post Consumer Finance and Shanxi Merchants Consumer Finance. There are Xiaoman Finance, Suning Finance, Jingdong Finance and so on. 、
Customers can apply for loans at the above-mentioned consumer finance institutions. Generally speaking, as long as they have good personal credit and sufficient repayment ability, they can successfully borrow money. In addition, some consumer finance companies cooperate with other lending platforms and can also issue loan funds as lenders.
Extended data:
1. What is consumer finance?
Consumer finance is a modern financial service model that provides consumer loans to consumers at all levels. Under the current macroeconomic situation in China, it is necessary to introduce relevant management measures in time to adapt to the trend and needs of the objective economic situation. From the perspective of financial product innovation, personal credit business is an area that traditional banks cannot fully benefit from. Establishing a professional personal consumption financial system can better serve individual residents.
Second, the supervision of consumer finance has become stricter, and the growth rate of the industry has slowed down significantly.
1. The consumer finance industry in China has reached a mature stage. According to the Report on the Development of Consumer Finance Companies in China (202 1) issued by China Banking Association, by the end of 2020, the assets of domestic consumer finance companies exceeded 500 billion yuan for the first time, up by 5. 18% year-on-year. The loan balance increased by 4.34% year on year. In contrast, in 20 19, the year-on-year growth rates of asset scale and loan balance were 28.67% and 30.5%, respectively, and the growth rate of the industry slowed down significantly.
2. At the same time, in 20021year, the supervision faced by the consumer finance industry will be further tightened. In August this year, many regulatory authorities required the consumer finance companies under their jurisdiction to control the personal loan interest rate within 24% in an all-round way, and set a transition period to make adjustments, which directly led to the compression of the profit margin of the consumer finance industry.
3. Prior to this, in June 20021,the Internet Finance Association issued the Proposal on Regulating Medical and Beauty-related Financial Products and Services, requiring financial institutions not to cooperate with any illegal medical and beauty institutions and not to provide relevant financial products and services to any illegal medical and beauty institutions. At the same time, with the implementation of the policy of "Opinions on Further Reducing Students' Homework Burden and Off-campus Training Burden in Compulsory Education Stage" issued by the General Offices of the General Office of the Central Committee of the CPC and the State Council in July 20021,the supervision of loans in the training field has been strengthened, and the training loans related to exam-oriented education have also been impacted, and the business has obviously shrunk.
Which online lending platform is consumer finance?
Consumer finance is not a loan platform, it refers to a financial service model that provides consumer loans to consumers at all levels.
Consumer Finance Company is a non-bank financial institution established with the approval of China Banking Insurance Regulatory Commission, which provides loans for consumers in China. For example, Gitzo Consumer Finance, Instant Consumer Finance, Zhongyuan Consumer Finance, China Post Consumer Finance and Shanxi Merchants Consumer Finance. There are Xiaoman Finance, Suning Finance, Jingdong Finance and so on. 、
Customers can apply for loans at the above-mentioned consumer finance institutions. Generally speaking, as long as they have good personal credit and sufficient repayment ability, they can successfully borrow money. In addition, some consumer finance companies cooperate with other lending platforms and can also issue loan funds as lenders.
What everyone needs to pay attention to is not to borrow money from unknown small loan companies. After all, without the approval of the CBRC, it is easy to meet loan fraudsters or loan sharks, fall into loan scams, and cause personal money losses.
Extended data:
What is a microfinance company?
Microfinance refers to a limited liability company or joint stock limited company established by natural persons, enterprise legal persons and other social organizations that does not absorb public deposits and operates microfinance business.
What is a consumer finance company?
Consumer finance company refers to a "non-bank financial institution" established in China with the approval of China Banking Regulatory Commission, which does not absorb public deposits and provides loans for consumption for individual residents in China on the principle of small amount and dispersion.
At present, consumer finance companies have developed in China for nearly 10 years. Up to now, there are only 27 licensed consumer finance companies in China (four of which have not yet opened), all of which are basically issued in the form of one province and one company. Most licensed consumer finance companies are supported by bank holdings. It can be seen that the gold content of this gold cancellation license is still quite high.
What's the difference between them?
1. Different regulatory ownership
The biggest difference between them is that they belong to different places.
Small loan companies are supervised by local government financial offices;
Consumer finance companies are non-bank financial institutions, which are supervised by the central bank and the China Banking Regulatory Commission. In addition, financial institutions can enjoy loans from the same industry and can be included in the central bank's credit information system and other preferential policies. Strict regulatory standards ensure the formality of consumer finance companies.
2. Different sources of funds have different strengths.
Small loan companies have a relatively single source of funds; Consumer finance companies can obtain funds by absorbing shareholders' deposits and enjoying interbank borrowing. Multi-channel sources of funds ensure the strong strength of consumer finance companies.
3. Different business contents have different levels of risk control.
Small loan companies have both credit and mortgage pledge mode, and the applicant's loan purpose is not clear, and the risk is not easy to control; Consumer finance is a credit loan, which is used for real consumption behavior. The direction of funds is clear and the risk control is controllable.
4. Different customers
Small loans serve individuals, self-employed individuals and small and medium-sized enterprises, and consumer finance companies serve individual residents; Consumer finance companies provide unsecured loans to individuals, and customers can use the money for decoration, tourism, education and other consumer activities, but not for production, operation and investment activities. The business of consumer finance generally includes bank credit card consumption, cancellation of company business with license money, micro-loan and ABS of consumer finance. It should be noted that, similar to small loan companies, licensed Jinxiao companies provide small loan services, but the difference lies in the specific purpose of the scene and funds, and there are also differences in the amount leverage ratio.
What are the consumer finance companies?
7 consumer finance companies, including China Bank Consumer Finance and Suning Consumer Finance Company. BOC Consumer Finance: a subsidiary of Bank of China, established by Bank of China; Zhaolian Consumer Finance: a financial institution jointly established by China Merchants Bank and China Unicom; Suning Consumer Finance: jointly initiated by Suning.cn, Nanjing Bank and other enterprises; Industrial consumer finance: a subsidiary controlled by Industrial Bank; Bank of Beijing consumer finance: a financial institution initiated by Bank of Beijing; Consumer Finance of Hangzhou Bank: a financial institution initiated by Hangzhou Bank; China Postal Consumer Finance: a financial institution initiated by China Postal Savings Bank.
1. Consumer finance companies refer to companies approved by the China Banking Regulatory Commission. Non-bank financial institutions established in People's Republic of China (PRC) (China) do not absorb public deposits, and provide consumer loans to individual China residents according to the principle of small amount dispersion. The so-called consumer finance company refers to a non-bank financial institution established in People's Republic of China (PRC) with the approval of the China Banking Regulatory Commission, which does not absorb public deposits and provides consumer loans to individual residents in China. Principle of small amount dispersion.
2.20 10 the first three domestic consumer finance companies were approved by the CBRC on June 6, 65438, and the first batch of approved consumer finance companies were established by Bank of China, Bank of Beijing and Bank of Chengdu. These three companies will take the lead in piloting in Shanghai, Beijing and Chengdu respectively. Among them, Beijing Consumer Finance Co., Ltd., a wholly-owned subsidiary of Bank of Beijing, is second to none in China with a registered capital of 300 million yuan; 2. BOC Consumer Finance Company, with a registered capital of 500 million yuan, and China Bank contributed 255 million yuan, accounting for 51%of the shares; An Baili Group invested 654.38+0.5 billion yuan, accounting for 30%; Lujiazui Financial Development Holding Company contributed 95 million yuan, accounting for19%; Sichuan Jincheng Third Consumer Finance Company, with a registered capital of 320 million yuan, is the first joint venture consumer finance company in China. Chengdu Bank contributed 565,438+0% and Hong Leong Bank of Malaysia contributed 49%. Subsequently, on February 65438+2, 2002, CBRC issued a pilot license to Tianjin PPF Group. Gitzo Consumer Finance Co., Ltd., wholly owned by PPF Group, was established in Tianjin with a registered capital of 300 million yuan, becoming the first wholly foreign-owned consumer finance company in China.