The Development Course of China Association of Finance Companies

1987, with the approval of the head office of the People's Bank of China, Dongfeng Automobile Industry Finance Company, the first financial company in China, was established, and nine financial companies were successively approved. 1in April, 1988, the National Federation of Financial Companies (hereinafter referred to as the National Federation of Financial Companies) was established at the initiative of financial companies such as Zhongshan and China Heavy Duty Truck. At that time, the All-China Federation of Finance and Economics was only an informal voluntary joint non-governmental organization for the purpose of experience exchange and cooperation. At this meeting, the Council was established and adopted a simple charter.

Group Finance Company is appointed as the first chairman unit, which is determined to be held once a year, and the member units take turns as the chairman.

China Finance Company Association is a member of China Enterprise Group Finance Company. Financial companies of enterprise groups came into being in the middle and late 1980s. It is a non-bank financial institution with China characteristics, and is essentially a financial company affiliated to a large enterprise group.

First, Sun Yat-sen Group Finance Company was appointed as the first chairman unit, and it was determined to be held once a year, and the member units took turns to serve as the chairman.

1993 At the 4th Council of the National Federation of Finance and Economics, Comrade Wang Qishan, then vice governor of the People's Bank of China, supported and agreed to establish a national self-regulatory organization for financial companies on the basis of the National Federation of Finance and Economics. After that, with the approval of the People's Bank of China and the registration of the Ministry of Civil Affairs, China Finance Company Association was formally established on August 1994, with legal person status. On September 1994, the inaugural meeting of China Finance Company Association was held in the Great Hall of the People in Beijing. At the same time, the first general meeting and the first Council of China Finance Company Association were held, and the articles of association were adopted, resulting in the first Council. Comrade Wuxi, Party Committee of China Nonferrous Finance Company, was elected as the chairman.

China Finance Company Association held its second (session), third (session) and third (session) general meetings in Beijing on1April 1998 196, June 10 and February 2000 12 respectively, and held annual board meetings.