Consumer finance company refers to a non-bank financial institution established in People's Republic of China (PRC) with the approval of China Banking Regulatory Commission, which does not absorb public deposits, and provides loans for consumption for individual residents in China on the principle of small amount and dispersion.
20 10 the first three domestic consumer finance companies were approved by the China banking regulatory commission on June 6, 65438. The sponsors of the first batch of approved consumer finance companies are Bank of China, Bank of Beijing and Bank of Chengdu, which will take the lead in piloting in Shanghai, Beijing and Chengdu respectively. Among them, the first one in China is Yin Bei Consumer Finance Co., Ltd., with a registered capital of 300 million yuan, which is a wholly-owned subsidiary of Bank of Beijing; The second company, Bank of China Consumer Finance Company, has a registered capital of 500 million yuan, and Bank of China contributed 255 million yuan, accounting for 565,438+0% of the shares. An Baili Group invested 654.38+0.5 billion yuan, accounting for 30%; Lujiazui Financial Development Holding Company contributed 95 million yuan, accounting for19%; The third Sichuan Jincheng Consumer Finance Company has a registered capital of 320 million yuan, with Chengdu Bank contributing 565,438+0% and Hong Leong Bank of Malaysia contributing 49%. Is the first joint venture consumer finance company in China. Subsequently, in February of 12, China Banking Regulatory Commission issued a pilot license to PPF Group in Tianjin, and Gitzo Consumer Finance Co., Ltd., which was wholly established by PPF Group, was established in Tianjin with a registered capital of 300 million yuan, becoming the first wholly foreign-owned consumer finance company in China.
20 12165438+127 October, Cai Esheng, vice chairman of the China Banking Regulatory Commission, said at the 2012 Tianjin Consumer Finance Forum held in Tianjin that since the pilot work was launched in 20 10, four pilot consumer finance companies have achieved rapid development and accumulated rich experience. By the end of 20 12 and 10, the total assets of the four pilot consumer finance companies in Beijing, Tianjin, Shanghai and Chengdu reached 40160,000 yuan, the loan balance was 3.709 billion yuan, and the total number of customers exceeded 654.3809 million. The four pilot consumer finance companies operated smoothly, their business scale expanded steadily, and their profitability gradually improved. The three companies achieved profitability.