Without the approval of the China Banking Regulatory Commission, no unit or individual may set up an auto financing company without authorization or engage in auto financing business in disguise, and may not use the words "auto finance" and "auto credit" in the name of the institution without authorization to indicate that it is engaged in auto financing business. Article 5 To invest in the establishment of an auto financing company, an investor shall meet the following conditions:
(1) An enterprise legal person established in China and abroad according to law.
Non-financial institutions, with total assets of not less than 4 billion yuan or its equivalent in a freely convertible currency in the latest year and annual operating income of not less than 2 billion yuan or its equivalent in a freely convertible currency;
The registered capital of a non-bank financial institution shall not be less than 300 million yuan or its equivalent in a freely convertible currency.
(2) It has a good business performance and has been making profits continuously for the last three years.
(3) Abide by the laws of the place of registration and have no illegal or criminal acts.
(4) The major investors shall be auto companies and non-bank financial institutions.
Automobile enterprises refer to enterprises that produce or sell complete automobiles.
The main investor refers to the investor who contributes the most and is not less than 30% of the total share capital of the auto financing company to be established.
(5) The same enterprise as a legal person may not invest in more than one auto financing company.
(6) Other prudential conditions stipulated by the China Banking Regulatory Commission. Article 6 The establishment of an auto financing company shall meet the following conditions:
(1) It has the minimum registered capital meeting the requirements of these Measures.
(2) Having articles of association that meet the requirements of the Company Law of People's Republic of China (PRC) and other relevant laws and these Measures.
(3) Having senior managers who are familiar with auto finance and related businesses.
(4) Having a sound organizational structure, management system and risk control system.
(5) Having business premises, safety precautions and other facilities suitable for business operation.
(6) Other conditions stipulated by China Banking Regulatory Commission. Article 7 The minimum registered capital of an auto financing company is 500 million yuan or its equivalent in a freely convertible currency. Registered capital is paid-in monetary capital.
China Banking Regulatory Commission may adjust the minimum registered capital according to the development of auto finance business and the need of prudential supervision, but it shall not be lower than the limit specified in the preceding paragraph. Article 8 The establishment of an auto financing company shall go through two stages: preparation and opening.
The preparation and opening materials submitted by the applicant shall be written in Chinese. Article 9 To apply for the establishment of an auto financing company, the main investor is the applicant, and the following materials shall be submitted to the China Banking Regulatory Commission:
(1) An application for preparation. The contents include the name of the auto financing company to be established, the company's registered place, registered capital, investors and their capital contribution, business scope, etc.
(2) A feasibility study report on the establishment of an auto financing company. Its contents include the market prospect analysis, future business development planning, organizational management structure and risk control ability analysis, asset-liability scale and profit forecast after the company opened for three years.
(3) Articles of Association of the auto financing company to be established (draft).
(4) Basic information of the investor, including the investor's name, legal representative, registered address, copy of business license, business operation, etc.
(5) The balance sheet, profit and loss statement and cash flow statement of the investor audited by a legal institution in the last three years.
(six) the list and resume of the person in charge of the preparation.
(7) Other documents required by China Banking Regulatory Commission.
If the applicant is a foreign-funded non-bank financial institution, a written opinion issued by the financial regulatory authority of the place of registration shall be provided when applying for preparation. If the applicant is a non-financial institution, the credit rating report of the rating agency on the applicant in the latest 1 year shall be provided when applying for preparation. Article 10 The China Banking Regulatory Commission shall, within 6 months from the date of receiving the complete application materials, give a written reply on whether to approve the preparation. Article 11 The applicant shall complete the preparatory work within 6 months from the date of receiving the approval document from the China Banking Regulatory Commission. If there are justified reasons to extend the preparation period, a written application shall be submitted to the China Banking Regulatory Commission before the expiration of the preparation period, which may be extended for 3 months upon approval.
If the applicant fails to apply for starting business at the expiration of the preparation period or extension period, the original approval decision for preparation will automatically become invalid.
During the preparation period, it is not allowed to engage in business activities in the name of an auto financing company. Article 12 An applicant shall, before the expiration of the preparation period or extension period, apply to the China Banking Regulatory Commission for starting business, and submit the following documents and materials:
(1) Report on the completion of preparatory work and report on the application for starting business.
(2) The capital verification certificate issued by the statutory capital verification institution in China and the pre-approval and registration of the name of the proposed institution issued by the administrative department for industry and commerce.
(3) Articles of association of the auto financing company.
(4) The name list and detailed resumes of the proposed senior managers.
(5) Names of shareholders and their capital contributions.
(6) Rules and regulations and internal risk control system for the business to be conducted.
(seven) the documents issued by the competent department on the safety acceptance of the business premises and other business-related facilities.
(8) Other documents required by China Banking Regulatory Commission.