Focusing On Consumer Finance And Public Welfare In The Third Plenary Session Of The 18Th CPC Central Committee

< p > 2009, China announced the launch of the consumption of < a href= "//www.sjfzxm.com/news/index_cj.asp > > financial > /a > pilot. Since 2010, four pilot companies in Beijing, Tianjin, Shanghai and Chengdu have been opened to provide consumers with convenient consumer financial services.

Li Jianhua, director of the supervision department of the non banking financial institutions of the China Banking Regulatory Commission (CBRC), said at the Lujiazui Forum (official station) in June 29th that four pilot Consumer Finance Companies have been running well, and the assets of the four companies have reached 6 billion 300 million yuan, and the lending scale is 8 billion 800 million yuan and 39 million.

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As one of the first batch of pilot companies, P has accumulated 180 thousand customers in Tianjin area, and has doubled the total amount of loans in the past two years.

Because consumer finance has the characteristics of "small, smart and convenient", it can be rolled out through cooperative retail business network, and then penetrates into the vast urban communities and remote areas. Therefore, consumer finance is also known as a new force to pry up domestic demand growth and promote financial services.

The pilot project of consumer finance has proved that although the customers of the first loan are not unfamiliar with the financial business, they enjoy this clear and convenient consumption loan service.

In addition, Consumer Finance Companies usually provides customers with the ability to repay repayment plans, and is welcomed by consumers. They can easily repay loans in installments without affecting their normal living expenses, thereby enjoying the immediate benefits of consumer loans.

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< p > according to the latest statistics of the CBRC, there are still about 3302 towns and townships in China without banking business outlets.

The entry of consumer financial services can alleviate the urgent need of farmers.

In fact, service sinking is a major feature of consumer finance.

Since 2007, the "credit card China" has introduced the advanced consumer finance experience of the group in the central and Eastern Europe and Asian markets, and began to provide consumer financial services in a number of two or three line cities in accordance with regulatory requirements.

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"P" Mr. Xu opened a fast food shop in the suburb of Changde, Hunan, and bought a 3000 yuan electric car for dinner by the credit service of the letter of China, which increased nearly a thousand yuan a month.

In less than half a year, Mr. Xu paid off the loan balance.

Mr. Xu also recommended to migrant workers and farmer friends to use electric vehicles to pport fruits and vegetables.

There are more and more middle and low income consumers who increase their own consumption level through the convenient consumption loan service and earn income. In recent 6 years, the company has been serving more than 4 million 500 thousand customers in China.

In the first three quarters of 2013, the growth rate of farmers' loan business was the highest among Chinese customers, followed by the growth rate of self-employed loans. The growth rate of loans increased by more than 100% over the same period.

This shows that the demand for clear and pparent consumer loans is increasing among rural customers, migrant workers and small businesses.

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< p > another feature of consumer loan is to promote the growth of cooperative business sales through convenient service.

Consumer Finance Companies directly relies on the network of cooperative retailers, and customers can get loans immediately if they apply at the shopping site. The average time is less than one hour.

Under the mode of shop consultation, consumer loan service can quickly stimulate consumption demand.

Data show that in the cooperation with Gome, Suning and small and medium-sized businesses in urban and rural areas, consumer finance boosted the turnover growth of 30%, and has deeply won the trust of cooperative merchants.

Yang Tao, director of the Financial Market Research Institute of the Chinese Academy of Social Sciences, who studied consumer finance for many years, once wrote that "at the end of 2012, the balance of personal consumption loans in China has reached 10 trillion and 270 billion yuan. However, loans, including loans issued by Consumer Finance Companies, account for only 11% of the consumption expenditure for durable consumer goods and decoration, and there is huge room for development.

In addition, at present, due to limited policy, Consumer Finance Companies is difficult to form the scale effect of p regional operation.

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< p > consumer finance has brought tangible benefits to users. Moderate pre consumption can be regarded as a "future investment".

Young customers use consumer loans to buy furniture or notebook computers to help them root down in towns or do small businesses. Buying personal computers for training helps to improve their quality and raise their wages. The investment in motorcycles and farm vehicles enables farmers to increase productivity or develop logistics businesses.

The business data of the pilot Consumer Finance Companies show that there is a strong demand for the purchase of electrical appliances and vehicles by stages. The side proves that the business demands the consumption of urban and rural low and middle income groups and promotes the development of the service industry in cities and towns.

At the same time, the consumer financial services industry has further enhanced the understanding of financial knowledge and the popularization of family budgeting.

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< p > on the other hand, < a href= "//www.sjfzxm.com/news/index_cj.asp" > middle and low income group < /a > may lack the sense of financial planning, which requires Consumer Finance Companies to promote the concept of reasonable credit from the perspective of customers.

Shi Guoqi, general manager of Consumer Finance Companies, said: "it is our important social responsibility to promote the concept of" pparent and responsible lending "and help consumers make better financial budgets for their families.

The head of the regulatory department said that the popularization of consumer financial knowledge has a positive impact on the gradual change of our savings oriented psychological consciousness.

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< p > the third Plenary Session of the 18th CPC Central Committee, the party's next blueprint for deepening the reform of the financial industry will show the trend of financial innovation and development.

The development of consumer finance helps to promote financial innovation and improve the financial service system.

On the basis of the meeting's decision, China welcomed the economic reform policy, and the consumer financial industry could continue to serve China's low-income groups in the future.

With the further deepening of the financial sector reform and the advancement of urbanization, the consumer finance industry, which is characterized by Pratt & Whitney and innovation, will flourish, thus effectively stimulating domestic demand and improving the economic structure.

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In the future, P will join many industry participants to contribute to the healthy development of China's consumer finance industry, the growth of domestic consumption demand, and the construction of "a href=" //www.sjfzxm.com/news/ index_cj.asp "credit system < /a" through its own standardized operation and innovation development.

Stable economic development and urbanization process will promote the release of grassroots consumer demand. Under the support of national policies, consumer finance has broad prospects.

The consumer finance industry will play a favorable role in promoting the growth of household consumption and economic pformation, helping the middle and low income groups to realize the "Chinese dream".

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