Personal consumption credit is a specific commodity loan provided by financial institutions for the purpose of consumption and improving residents' living standards, with residents' future income as the guarantee. Specifically, it includes the following meanings:
1. In essence, consumer credit is a form of credit consumption. Generally speaking, any consumption in the form of loan or deferred payment is called credit consumption. There are many forms of credit consumption, such as borrowing on credit through friends, relatives, friends, banks and selling on credit. Consumer credit is just a kind of credit consumption, which is a loan issued by financial institutions to individual residents for purchasing specific consumer goods. Consumer credit is a historical category and an economic phenomenon when the market economy develops to a higher level.
2. The purpose of consumer credit is to consume, expand commodity sales, accelerate commodity turnover and improve consumers' living standards. So figuratively speaking, the purpose and function of consumer credit is to help consumers realize the ideal of "using tomorrow's money to round today's dreams".
Development Status of Online Consumer Credit
Rapid growth in scale
Internet consumer loans refer to short-term, micro-credit consumer loan services provided by financial institutions, quasi-financial institutions and Internet enterprises for personal consumption (generally excluding house purchase and car purchase) with the help of Internet technology, which are unsecured and unsecured. The whole process of application, review, lending and repayment is completed online. Compared with traditional consumer finance, Internet consumer finance has lower capital cost and higher approval efficiency. With the help of big data and financial technology, information asymmetry can be further reduced. The scale of Internet consumer credit in China increased from1870 million yuan in 20 18 to 9 1 trillion yuan in 20 18, with a compound annual growth rate of 370%. In 20 19, the scale of internet consumer credit in China was about 16.3 trillion yuan.
The industry has entered the stage of standardized development.
2065438+At the beginning of 2004, JD Finance launched JD.COM. COM White Strip "officially kicked off the Internet consumer credit. Subsequently, Ant Group launched "Ant Flower Garden". In 20 15, all parties began to lay out the internet consumer finance business vigorously, and the internet consumer finance business entered the fast lane of development. 2065438+March 2006, under the background that the People's Bank of China and the China Banking Regulatory Commission put forward "accelerating consumer credit management mode and product innovation", the Internet consumer finance business ushered in a golden period of development. But at the same time, due to the unclear positioning of credit intermediaries and information intermediaries, the risks of many Internet platforms in the market began to be exposed. In the second half of 20 17, the industry entered a period of rectification, and the state issued a series of regulatory policies to rectify the chaos of industry development. From P2P special rectification, standardizing cash loans to commercial banks' Internet loans, to the bottom cleaning of big data violations, illegal lending and the standardization of private lending interest rates, China's Internet consumer credit business has gradually entered a stage of standardized and healthy development.
The product uniformity is high.
At present, Internet consumer credit products in China can be divided into two categories: scene consumer loans and cash loans. The former relies on consumption scenarios and consumption purposes to issue loans, while the latter is nominally used for consumption, but in fact it is difficult to track, and the final destination of funds is unknown. Most platforms have two forms of consumer credit products at the same time, but the homogenization of the two products is serious, especially the scene consumer loans, which are concentrated in shopping, housing, decoration, tourism and other fields, and the competition is excessive.
20 17 12 the central bank and the CBRC issued the same document.
The Notice on Rectifying Cash Loan Business pointed out that the layout of outlets without specific scenes and designated purposes should be suspended, the stock business should be gradually compressed, and the rectification should be completed within a time limit. This means that for consumer financial institutions, scenarios are becoming more and more important. To increase its market share, it is necessary to improve its risk control level and make the scene layout more refined, such as developing rural financial consumption scenes and blue-collar consumption scenes.
—— The above data comes from the Analysis Report on Market Foresight and Investment Strategic Planning of China Consumer Finance Industry by Forward-looking Industry Research Institute.
The interest rate of personal consumption loans is lowered. What do you think of personal consumption loans?
In fact, I have a negative attitude towards consumer loans, because consumer loans can easily make consumers develop the bad habit of spending in advance.
With the increasing pressure of people's lives, wages have not increased much. This has also led many people to choose loans to solve the stress in their lives. Of course, it is a good way in a short time. But in the long run, if the loan is not paid off in time, it will add more pressure.
The interest rate of consumer loans fell.
Now the consumer loan industry is very hot, but it also contains a great crisis. Citizens borrow money online and pay a certain interest to the consumer loan platform. However, some illegal and non-compliant online lending platforms require consumers to pay interest far exceeding the level stipulated by the state. Therefore, the state severely cracked down on this aspect, and many non-compliant online lending platforms disappeared. However, there are still many illegal small online lending platforms. In order to attract more customers, small online lending platforms can only reduce the loan interest rate.
Consumer loans should not become the mainstream of society.
I don't think this kind of loan can become the mainstream of young people's consumption, and the pressure on young people is already very heavy. If you spend money through consumer loans again, it will increase the pressure on young people. Therefore, this kind of consumer loan is not desirable for the current society. At the same time, it is easy for lenders to develop bad habits and always choose to spend in advance.
Rectify the online lending platform.
Relevant financial supervision departments should rectify illegal online lending platforms, and at the same time stipulate that some online lending platforms should reduce loan interest rates. In addition, the online lending platform must strictly review the borrower's personal ability while carrying out lending activities. When the online loan platform carries out collection work, it should also pay attention to the use of legal means for collection. After all, in recent years, threatening collection methods have occurred from time to time, which has brought great harm to borrowers.
Can you introduce the personal consumption loan of China Bank?
Introduction of Personal Consumption Loan of China Bank;
Personal consumption loan is a loan product provided to individual customers for consumption purposes according to their credit status and collateral approved by China Bank. According to whether there is mortgage or not, personal consumption loans are divided into personal mortgage consumption loans and personal pledge consumption loans; According to whether the loan amount is recoverable or not, personal consumption loans are further subdivided into personal mortgage recoverable consumer loans, personal mortgage non-recoverable consumer loans, personal unsecured pledge recoverable consumer loans and personal unsecured pledge non-recoverable consumer loans.
The above contents are for your reference. Please refer to the actual business regulations.
What is the current situation and development direction of consumer credit? [
The Basic Situation of Consumer Credit Development in China
Since 1998, China's consumer credit has developed rapidly and achieved remarkable results, which has played an important role in promoting consumption, expanding domestic demand and improving people's consumption level. Consumer credit not only improves consumer demand, but also promotes commodity sales, which has become an important means for the state to selectively regulate the consumer market. By the end of April 2006, the balance of consumer credit in China was 2,265.5 billion yuan, an increase of 2,246.5 billion yuan compared with 1997 at the beginning of the year, an increase of 1.8 times; The proportion of the balance of consumer credit in the balance of various loans has also increased from less than 0.23% at the end of 1997 to 10.2%. The varieties of consumer credit show diversified development. From the perspective of consumption field, it has developed into many consumption fields such as housing, automobile and student aid; From the perspective of credit tools, there have been many credit methods, such as credit card, deposit certificate pledge, treasury bill pledge and so on. From the perspective of institutions providing consumer credit business, all commercial banks and urban and rural credit cooperatives that have developed from state-owned commercial banks to qualified credit business are operating this business. Specifically, the development of consumer credit in China presents the following characteristics:
The total amount of loans increased year by year, but the growth rate slowed down.
From 65438 to 0998, the People's Bank of China issued the Guiding Opinions on Developing Personal Consumption Loans, and the development of consumer credit entered the fast lane. From 2000 to 2005, the average annual growth rate of consumer credit was 3 1.4%, but influenced by many factors such as the gradual expansion of the base, the growth rate of consumer credit showed a downward trend year by year. In 2000, the growth rate of consumer credit was as high as 205.4%, and in 2005 it was only 10.4%. The reason for the rapid growth of consumer credit is not only the change of residents' consumption concept and the improvement of financial services, but also the rapid growth of urban and rural residents' income level and consumption level, which is the most important factor to promote the growth of consumer credit in recent years. In 2005, the per capita disposable income of urban residents reached 10493 yuan, an increase of 42 13 yuan compared with 2000, with an average annual nominal growth of 10.8%. The total retail sales of social consumer goods increased from 3,766.4 billion yuan in 2000 to 67 177 billion yuan, with an average annual growth rate of 12.3%. The growth of consumer credit is basically consistent with the growth trend of residents' income level and total retail sales of social consumer goods.
The structure of consumer credit is generally stable, but individual varieties fluctuate greatly.
Personal housing loan has always been the main body of consumer credit. In recent years, with the gradual deepening of China's housing system reform, personal housing loans have become the focus of consumer credit development. In order to support and encourage residents to buy houses, the state develops housing loans by focusing on supporting the construction of affordable housing and implementing preferential interest rates for housing loans. From 2000 to 2005, the proportion of individual housing loans to the total consumer credit was basically stable at around 80%; By the end of April, 2006, the balance of individual housing loans had reached 654.38+09069 billion yuan, accounting for 84% of the total consumer credit balance.
Student loans have developed steadily. Since 1999, in order to cooperate with the policy of expanding enrollment and the reform of charging system in colleges and universities, the state has issued the policy of education student loan. In 2004, in view of some problems existing in the national student loan business, the People's Bank of China, in cooperation with the Ministry of Education and other departments, issued a series of new policies such as determining the handling bank through bidding and establishing a loan risk compensation mechanism, which made the development of student loan business enter a new stage. By the end of April 2006, the balance of national student loans had reached1157.5 billion yuan. Coupled with commercial student loans, the balance of various student loans has reached137.9 billion yuan. According to preliminary statistics, since this credit business was launched, financial institutions have issued a total of 654.38+085 billion yuan of national student loans, which has helped about 2.28 million students complete their studies.
The risk of automobile loan is gradually exposed and fluctuates greatly. Automobile loan is one of the consumer credit varieties launched by commercial banks earlier. 1998 to 2003, the auto loan business developed rapidly. From 200 1 to 2003, the balance of automobile consumption loans increased by 148% annually, accounting for 6.2%, 10.8% and10.7% of the total consumption loans in turn. However, since the beginning of 2004, the risks of auto loans have been gradually exposed, financial institutions have begun to control the scale of auto loans and adopted stricter risk prevention measures, and the development speed of auto loans has slowed down. By the end of April 2006, the balance of auto loans was101billion yuan, a decrease of 58.3 billion yuan compared with the end of 2004.
In addition, other consumer credit such as durable consumer goods loans and credit card consumption developed relatively steadily. By the end of April 2006, the balance of other consumer credit was 229.8 billion yuan, accounting for 10 14% of the balance of consumer credit, among which credit card overdraft consumption became a new bright spot.
The regional distribution of consumer credit is extremely unbalanced.
The regional imbalance of consumer credit development is consistent with that of the whole consumption growth. According to statistics, the proportion of rural market sales, which accounts for nearly 60% of the national population, in the total retail sales of social consumer goods has gradually declined in recent years, from 38.2% in 2000 to 32.9% in 2005. Sales are further concentrated in developed regions, and the proportion of sales in the eastern region to the total retail sales of social consumer goods has reached 60%, and this proportion is gradually increasing. Generally speaking, the more developed the economy, the larger the scale of consumer credit. By the end of April 2006, the top six provinces and cities in terms of consumer credit balance were Guangdong, Shanghai, Zhejiang, Beijing, Jiangsu and Shandong, accounting for 66% of the whole country, while the sum of consumer credit balance in western126.1/kloc-0.
Suggestions on Promoting the Healthy Development of Consumer Credit
At present, macro-control is at an important stage. While continuing to do a good job in comprehensive balance, we will focus on promoting structural adjustment, one of which is to give play to the role of consumption in pulling the economy. From the experience of economic development at home and abroad, developing consumer credit is an effective way to promote the growth of consumer demand.
Promoting the healthy development of national economy and the steady improvement of residents' income level is the basis of promoting the development of consumer credit.
With the further improvement of public awareness of financial management, consumer credit has become an important tool for residents to optimize their savings and consumption structure. Generally speaking, the expectation of residents' personal income and expenditure will directly affect the depth and frequency of consumer credit. In recent years, although the growth of consumer demand is relatively stable, the growth of investment demand is faster than that of consumer demand, which leads to the continuous decline of consumption rate, from 6 1. 1% in 2006 to 50.7% in 2005. The widening income distribution gap of residents leads to the decline of overall consumption tendency, while the construction of social security system is still not perfect, which also significantly enhances the precautionary saving motivation of urban and rural residents. These have directly affected the growth of consumer credit. Therefore, at present and in the future, according to the requirements of Scientific Outlook on Development and building a harmonious socialist society, we should do everything possible to improve residents' income level, improve the construction of social security system, reduce residents' educational and medical burdens, enhance residents' spending power, improve residents' expenditure expectations, promote residents' consumption structure upgrading and expand consumption, and create a solid foundation for the sustainable development of consumer credit.
Accelerate the construction of personal credit information system to provide institutional guarantee for promoting the development of consumer credit.
Honesty and trustworthiness of borrowers is an important prerequisite for the healthy development of consumer credit. However, the establishment of personal credit system in China has just started, and the concept of credit is still in the process of popularization. Borrowers construct false personal information, and the phenomenon of fraudulent loans and loan evasion occurs frequently, which seriously dampens the enthusiasm of commercial banks to issue consumer credit. For example, the continuous decline of auto loans in recent years is closely related to the imperfection of personal credit system. From the practical experience of foreign countries, the construction and commercialization of personal credit system can effectively solve this problem. On the one hand, it can increase the transparency of residents' assets and liabilities and help prevent loan risks; On the other hand, it can reduce the management cost of financial institutions and improve the enthusiasm of personal business. In recent years, the People's Bank of China has accelerated the construction of the basic database of personal information while improving the enterprise credit information system. At present, the enterprise credit information system has been networked nationwide, which provides an effective guarantee for promoting the development of consumer credit. The next step is to improve the legal basis of personal information disclosure, formulate laws and regulations on credit reporting as soon as possible, and introduce relevant supporting measures, so that the development and management of credit reporting can be based on laws, and provide institutional guarantee for ensuring the safety of credit assets, conducting consumer credit investigations, and protecting personal privacy according to law. At the same time, we should also improve the construction of personal credit rating system, promote the healthy development of relevant intermediaries, and provide services for financial institutions to better carry out consumer credit business.
Developing the rural consumer market is the focus of the development of consumer credit business.
Consumer credit business is mainly carried out in cities, which is directly related to the obviously low consumption level in rural areas. In 2005, the per capita consumption expenditure of rural residents was only 32.2% of that of cities and towns, which was 65,438 0.2 percentage points lower than that of 2000. From the consumption structure, the Engel's coefficient of rural residents in 2005 was 8.8 percentage points higher than that of urban residents, and the rural consumption structure obviously lagged behind that of urban residents. The Central Committee of the Communist Party of China and the State Council clearly put forward that the construction of new socialist countryside should be steadily promoted during the 11th Five-Year Plan period. Improving the income level of rural residents and developing the rural consumer market is one of the important contents. From the perspective of promoting the long-term development of consumer credit, financial institutions should deeply analyze the consumption demand of rural residents, vigorously develop credit varieties that directly promote the upgrading of rural consumption, such as large-scale durable consumer goods credit, and explore and develop other new credit varieties suitable for rural residents' consumption habits.
Promoting the pilot work of asset securitization is the innovative direction to promote consumer credit.
Generally speaking, consumer credit has a long term and high liquidity risk and interest rate risk. In addition to the risk factors such as changes in interest rates and borrowers' income, the uncertain factors of consumer credit risk are also manifested in the borrower's work, residence, health status and family changes, which may adversely affect the borrower's repayment ability. Compared with the longer loan term, the term of commercial banks' sources of funds is generally shorter. Once commercial banks underestimate economic and financial changes and fail to adjust cash flow accordingly, the risk of "short-term deposit and long-term loan" breaks out, and banks may be forced to realize assets at a discount or raise funds at a high price, resulting in losses and liquidity risks. From the international experience, asset securitization, as a mature structured financing tool that has been tested by practice, is of great significance to promoting the development of consumer credit. Through securitization, consumer loans such as long-term housing mortgage loans and automobile loans are packaged and sold, and the funds are collected, which is conducive to reducing the proportion of medium and long-term loans, improving the mismatch of credit terms, optimizing the term structure of interest rates, and forming a reasonable yield curve. At present, the pilot work of asset securitization in China has just started. With the approval of the State Council, China Development Bank and China Construction Bank launched pilot projects of credit asset securitization and housing mortgage loan securitization, and successively issued asset-backed securities in the inter-bank bond market. In the next step, on the basis of summarizing the relevant pilot experience, we can explore expanding the scope of pilot credit assets, securitizing auto loans, student loans, credit card overdrafts, etc. To speed up the securitization process of personal housing loans and expand the space for financial institutions, especially small and medium-sized financial institutions, to accelerate the development of personal consumption loans. -
What stages did the emergence and development of personal loan business go through?
The emergence and development of personal loan business has mainly gone through three stages: start, development and standardization.
The first stage of the emergence and development of personal loan business: the reform of housing system promoted the emergence and development of personal housing loan.
Since the mid-1980s, with the reform of China's housing system, the acceleration of the commercialization of urban housing and the reform of the financial system, in order to meet the individual housing consumption needs of residents, China Construction Bank took the lead in opening individual housing loan business in China, and then commercial banks opened it all over the country, which has a history of 20 years.
At present, the scale of individual housing loans in commercial banks is expanding, from single individual purchase of housing reform loans to consumer personal housing loans, with complete varieties and convenient selection. There are personal loans to buy housing reform, affordable housing and fund-raising housing, as well as personal loans to buy commercial housing.
There are both entrusted individual housing provident fund loans, self-operated housing loans and portfolio loans; There are both RMB personal housing loans and personal housing loans; There are personal housing loans, personal commercial housing and parking spaces. Office loan; There are not only simple home purchase loans, but also portfolio loans for home purchase, car purchase and decoration. There are also derivatives of personal housing loans such as "remortgage" and "additional mortgage".
The second stage of the emergence and development of personal loan business: the growth of domestic consumer demand has promoted the vigorous development of personal consumer credit.
At the end of 1990s, China's economy maintained a high-speed and steady growth, but the lack of domestic demand had a negative impact on China's economic development. In response, the state has successively issued a series of active fiscal and monetary policies to stimulate domestic consumption and investment demand, expand domestic demand and promote economic development. To this end, the People's Bank of China also started the domestic consumer credit market through window guidance and policy guidance, and guided commercial banks to develop consumer credit business. Personal consumption credit business has developed rapidly, and gradually formed a relatively complete personal loan product series, mainly personal housing loans and personal automobile consumption loans, and other types of personal comprehensive consumption loans, personal business loans, education loans, personal credit loans, personal online self-help loans, and personal entrusted loans.
The third stage of the emergence and development of personal loan business: the shareholding system reform of commercial banks has promoted the standardized development of personal loan business.
In recent years, with the further deepening of the shareholding system reform of commercial banks, according to the requirements of establishing a modern financial enterprise system, banks have made efforts to improve the corporate governance structure, gradually improve the internal control system, change the operating mechanism, and establish relevant monitoring and evaluation mechanisms, which has effectively promoted the standardized development of personal loan business. Personal loan business has been gradually improved and improved in terms of service level, loan variety structure, scale and credit risk control.
The introduction to the development of personal consumption loans ends here.