What is the concept of consumer finance?

Traditional consumer finance is a modern financial service model that provides consumer loans to consumers at all levels. Whether from the perspective of financial product innovation or expanding domestic demand, consumer finance pilot has positive significance.

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 is based on the principle of small amount and dispersion, does not absorb public deposits, and provides loans for consumption for individual residents in China.

Under the current macroeconomic situation in China, it is necessary to introduce relevant management measures in time to adapt to the trend and needs of the objective economic situation. From the perspective of financial product innovation, personal credit business is an area that traditional banks cannot fully benefit from. Establishing a professional personal consumption financial system can better serve individual residents.

Extended data:

Characteristics of consumer finance companies:

1. License: It was established with the approval of China Banking Regulatory Commission. Without the approval of the CBRC, no institution may use the word "consumer finance" in its name.

2. Do not absorb public deposits

3, provide loans for the purpose of consumption (excluding the purchase of houses and cars)

4. Mode of operation: short-term, small-amount, unsecured and unsecured.

5. Non-bank financial institutions

Baidu encyclopedia-consumer finance