The financial licenses that need to be approved in China mainly include banks, insurance, trusts, brokers, financial leasing, futures, funds, fund subsidiaries, fund sales, third-party payment licenses, micro-loans and pawns.
Bank license
The examination and approval department of bank license is CBRC, and banks are mainly engaged in savings and credit business.
Insurance license plate
The insurance license shall be examined and approved by the China Insurance Regulatory Commission. With an insurance license, it can cover all kinds of property insurance, liability insurance, credit insurance, agricultural insurance, personal insurance and other insurance businesses in RMB and foreign currency.
Can also handle a variety of domestic and foreign reinsurance business and statutory insurance business. It is one of the hottest licenses in recent years.
Brokerage license
The brokerage license is approved by the CSRC. At present, brokerage licenses include securities underwriting and sponsorship, brokerage, self-management, direct investment, securities investment activities, securities asset management and margin trading.
Trust license
The trust license is approved and issued by the CBRC, and the businesses that can be engaged with the trust license include trust business, engaging in investment fund business as the promoter of investment funds or fund management companies, etc.
Third-party payment license
The People's Bank of China is responsible for examining and issuing third-party payment licenses, which has always been a battleground for military strategists.
There are three kinds of third-party payment licenses, namely: (1) online payment; (2) Issuance and acceptance of prepaid cards; (3) Bank card receipt.
Funds and futures-related licenses
Fund sales payment license mainly refers to the license issued to payment enterprises, and refers to the monetary fund transfer service provided by non-financial institutions as intermediaries between the payee and the payee.
Futures licence
For large domestic financial groups, futures is also an indispensable license, and its value is mostly reflected in the value of channels or channels. There are more and more cases of acquiring futures companies, especially securities and trust companies.
Finance lease license
First of all, we should pay attention to distinguish between financial leasing license and financial leasing license. The former is the head of the Ministry of Commerce and the latter is supervised by the CBRC. The financial leasing licenses in charge of the Ministry of Commerce are divided into two categories: foreign-invested financial leasing and domestic-funded financial leasing.
Foreign-invested financial leasing companies shall be examined and approved by the Ministry of Commerce, and domestic pilot financial leasing companies shall be jointly examined and approved by the Ministry of Commerce and State Taxation Administration of The People's Republic of China.
Other financial licenses
Small loan company license, the business scope mainly includes: unsecured loans, mortgage loans, pledged loans, equity mortgage loans, personal loans, small loans, corporate loans, consumer loans, mortgage loans and entrepreneurial loans. The supervision department is the Provincial Finance Office.
The issuing agency of pawn license is the Ministry of Commerce, which is mainly engaged in pawn business.
Consumer finance license shall be approved and issued by China Banking Regulatory Commission. At present, there are 22 approved consumer finance companies, including 20 banks, accounting for more than 90%.
At present, there are still many institutions planning to initiate the establishment of consumer finance companies.
Further reading: How to buy insurance, which is good, and teach you how to avoid these "pits" of insurance.