Consumer financial trust refers to the financial products and services mainly based on consumer credit provided by trust companies to meet the consumption needs of different customer groups in society. Specifically, it includes consumer loans or installment services provided by trust companies in cooperation with commercial banks, consumer finance companies, auto finance companies, small loan companies, e-commerce platforms and installment consumption platforms, as well as related asset securitization products.
Consumer financial trust belongs to the innovative business category of trust companies, which is quite different from traditional trust business. Consumer finance trust business began with micro-financial services launched by Foreign Trade Trust in 2007. Around 20 14, new trust companies kept trying this business. Under the background of the rapid and steady growth of residents' income and the continuous upgrading of consumption structure in China, with the outbreak of internet finance business and the encouragement and guidance of the state policies in the field of consumer finance, many trust companies have made great efforts in consumer finance trust business in the past two years.
The scale of trust assets of consumer finance varies greatly among trust companies. In 20 18, there were three new trust companies 13 in the consumer finance market. By the end of 20 18, nearly 40 of the 68 trust companies had launched consumer finance trust business, accounting for nearly 60% of the trust industry. According to the survey data of Trust Industry Association, by the end of 20 18, the balance of trust industry consumer finance trust has reached nearly 300 billion yuan, and the business scale has continued to grow.
Trust companies have a variety of cooperative institutions for consumer finance trust business. According to the investigation in china trustee association and the information of official website, a related trust company, the cooperative institutions in the consumer finance trust business of trust companies can be divided into five categories: first, consumer finance companies represented by Gitzo and Immediate; The second is an online small loan company represented by Ant Small Loan and JD.COM Small Loan; Third, private Internet banks represented by Weizhong Bank, Online Merchant Bank and Wangxin Bank; Fourth, financial leasing companies, such as lion bridge financial leasing and big search car financial leasing; Fifth, the consumption staging platform. There are many such institutions, including Payman, Chehejia, Medical and Beauty Staging, Hui Jin, Baiqian Finance, Samoyed and so on.
At present, commercial banks have not really carried out consumer finance business on a large scale. The number of auto finance companies and consumer finance companies is small, and the market size is still limited; Small loan companies have been established and developed rapidly in the past year or two, but the pressure of supervision and rectification is great; E-commerce platform and various consumption staging platforms have developed rapidly under the combination of online shopping platform, big data and consumer credit, but the sources of credit funds are limited and financial institutions with loan qualifications are needed. Although trust companies are not deeply involved in consumer finance business as a whole, they are expected to achieve better development by learning from each other's strengths and deepening specific consumption scenarios.