news

recently, the state financial supervision and administration bureau issued the "notice on promoting non-bank financial institutions to support large-scale equipment renewal and consumer goods trade-in" (hereinafter referred to as the "notice"). the "notice" encourages non-bank institutions to support large-scale equipment renewal and consumer goods trade-in from three aspects: increasing financial support, optimizing internal management systems and mechanisms, and increasing regulatory policy support.

the content of the notice points out that we should increase automobile financial services and support the replacement of old cars with new ones. we encourage automobile finance companies and finance companies operating automobile finance business to increase financing support for municipal transportation enterprises, help promote the application of new energy vehicles, promote the replacement of urban buses with electric vehicles, and replace old new energy buses and power batteries.

the notice also proposed that, under the premise of compliance with laws and regulations and controllable risks, it is encouraged to appropriately reduce the down payment ratio of auto loans, reasonably determine the term and credit limit of auto loans, and lower the threshold for auto consumption. it is encouraged to enrich the supply of auto financial products, provide consumers with financial services such as replacement car follow-up loans during vehicle replacement, appropriately reduce or exempt early repayment penalties, and support the trade-in of old cars.

encourage strengthening cooperation with automobile manufacturers, strive for interest subsidy support, and enhance consumers' sense of gain; encourage tiered consumption and renewal consumption of automobiles, increase financial support for the used car market on the basis of controllable risks, and promote automobile renewal consumption by activating the used car market.