Consumer Finance Industry Chain

Online Loan P2P

Central Bank: All P2P platforms have been cleared in 2020

January 15 , Chen Yulu, deputy governor of the Central Bank, said at a press conference of the State Council Information Office that the battle to prevent and resolve financial risks in 2020 has achieved important phased results. All P2P platforms have been cleared, and various high-risk financial institutions have been disposed of in an orderly manner. He also said that the scale of shadow banking has shrunk, the risks of asset management products have significantly converged, and the nesting of inter-bank relationships continues to decrease. (100 million euros)

Consumer Finance Comments: According to statistics, more than 10,000 P2Ps have been launched in the past 13 years. At the peak, there were more than 5,000 operating at the same time, with an annual transaction scale of approximately 3 trillion yuan.

Large companies

Central Bank: Ant Group has established a rectification working group

Chen Yulu, deputy governor of the People's Bank of China, said on the afternoon of January 15 that regarding Ant Group Regarding the issue of standardization and rectification, under the guidance of the financial management department, Ant Group has established a rectification working group and is working hard to formulate a timetable for rectification and carry out rectification according to regulatory requirements. At the same time, it must also maintain business continuity and The normal operation of enterprises ensures the quality of financial services to the public. The financial management department is also maintaining close supervisory communication with Ant Group, and relevant work progress will be announced in a timely manner. (China Fund News)

Comments from the consumer finance community: On December 26 last year, the central bank and other financial management departments jointly interviewed Ant Group and pointed out its imperfect governance mechanism and lack of legal awareness in its operations. , excluding fellow operators and other major issues.

Didi affiliates applied for the "Didi Finance" trademark

Tianyancha App shows that recently, Beijing Didi Wuxian Technology Development Co., Ltd. added new trademark application information for "Didi Finance", and the international It is classified as financial property management, and the trademark status is displayed as "Trademark Application in Progress".

Beijing Didi Wuxian Technology Development Co., Ltd. was established in May 2013 with a registered capital of 20.6 billion yuan. The legal representative is Cheng Wei. Its business scope includes the research and development of computer software and network technology; technical services and technical consulting. , technology transfer; sales of self-developed software products, etc. Tianyancha App shows that the company is held by Xiaoju Technology Hong Kong Co., Ltd. 100%. (Financial sector)

Comments from the consumer finance sector: Didi Finance may launch new products.

Cardholder Pay was fined 530,000 yuan for violating payment and settlement regulations

On January 15, the administrative penalty information released by the Urumqi Central Branch of the People's Bank of China showed that due to violation of payment regulations According to relevant settlement regulations, the Urumqi Central Branch of the Central Bank of China gave Kayou Payment Services Co., Ltd. a warning and a fine of RMB 530,000; the relevant responsible persons were given a warning and a fine of RMB 50,000. (Payment Home Network)

Comments from the consumer finance industry: Payment institutions need to pay attention to compliance operations.

Anxin Property & Casualty Insurance Co., Ltd. was subject to administrative supervision measures due to serious insufficient solvency

On January 14, the China Banking and Insurance Regulatory Commission website announced the decision on administrative supervision measures issued to Anxin Property & Casualty Insurance Co., Ltd. Book.

The content of the decision on administrative regulatory measures shows that according to the "Provisional Solvency Report of Anxin Property Insurance Co., Ltd. for October 2020" reported by Anxin Property and Casualty Insurance, the core and comprehensive solvency of Anxin Property and Casualty Insurance at the end of October 2020 The capacity adequacy ratio is -125.7, indicating a serious lack of solvency.

It is reported that the China Banking and Insurance Regulatory Commission informed Anxin Property and Casualty Insurance of the facts, reasons, and basis for the administrative supervision measures and the rights enjoyed by the parties in accordance with the law. The latter did not file a statement and defense within the time required in the notice. (Financial Times)

Consumer Finance Comments: Data show that Anxin Insurance suffered continuous losses from 2016 to 2019, with a total loss of 958 million yuan, and its solvency has always been at a low level.