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Measures on the administration of pilot consumer finance com
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"Publishing" China Banking Regulatory Commission
"Publication number" CBRC 2013 of 2nd
"Date published" 2013-11-14
The "effective date" in 2014-01-01
"Expiration date"
"The class" national laws and regulations
"Source document" China Banking Regulatory Commission

The China Banking Regulatory Commission 2013 of 2nd

The management of pilot consumer finance companies have already adopted by the Chairman of the China Banking Regulatory Commission in 2013, the 18th session. Are hereby promulgated and take effect on January 1, 2014.

Chairman of the China Banking Regulatory Commission Shang Fulin
The November 14, 2013

Consumer finance company administrative rules on pilot

Chapter I General provisions
First for the development of consumer finance business, regulate the operation ofconsumer finance companies, according to the people's Republic of China BankingRegulatory Act, the corporate law of the people's Republic of China and other laws and regulations, these measures are formulated.
Article consumer finance companies mentioned in these measures refers to approved by the China Banking Regulatory Commission, established in the territory of the people's Republic of China, does not take deposits from the public and to the principle of small, decentralized, for Chinese residents to provide consumer loans for the purpose of the non-bank financial institutions.
Article referred to consumer loans was a consumer financial company to consumer borrowers (not including the purchase of houses and cars) for the purpose of the loan.
Fourth a consumer financial company shall be indicated in the name of "consumerfinance". Without the approval of the CBRC, no institution may use in the name of"consumer finance".
Article fifth banking regulatory authority shall supervise and administer the consumer finance company and its business activities.
Chapter II establishment, modification and termination
Sixth application for establishment of a consumer financial company shall meet thefollowing conditions:
(A) is consistent with the provisions of the company law of the people's Republic of China and the China Banking Regulatory Commission of Association;
(B) meet the requirements of investors;
(C) comply with the minimum amount of registered capital as provided herein;
(D) meet the qualifications of Directors and senior managers and qualified staff familiar with consumer finance business;
(E) the establishment of effective corporate governance, internal control and riskmanagement systems, and business operation management information system;
(F) operating in conformity with business premises, safety measures and other facilities;
(VII) other prudent requirements as specified by the CBRC.
Investor of the seventh a consumer financial company shall provide legally established enterprises in and outside of China, and is divided into the main contributorsand contributors in General. Main contributor is the financed amount up and amount is not less than the proposed consumer financial company's total equity of 30% investor, investor refers to other contributors except the main contributor.
Main contributor referred to in the preceding paragraph shall be domestic and foreign financial institution or business to provide for non-financial enterprises in consumer lending products.
Eighth financial institution as the consumer finance company's main investors, subject to the following conditions:

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