(October 3, 2003 Chinese Banking Regulatory Commission in 2003 the 4th release) Chapter I General provisions article I to adapt to the development of automobile financial service industry need, regulate non-bank financial institutions engaged in auto financing business, pursuant to the relevant laws and administrative regulations, these measures are formulated.
    Article auto finance companies mentioned in these measures refers to the China Banking Regulatory Commission in accordance with the relevant laws, administrative regulations and approved as provided herein, for China's car buyers and loans provided by the sale of non-banking financial Corporation.
    Article III of the China Banking Regulatory Commission is responsible for the supervision and administration of auto financing companies.
    Chapter II establishment, change and termination article fourth establishment of an auto financing company shall obtain the approval of the China Banking Regulatory Commission.
    Without the approval of the China Banking Regulatory Commission, without authorization, no unit or individual is allowed to establish an auto financing company or disguised in the auto finance business, shall not be used in the name of "auto financing" or "auto loan" that engagement in auto financing business.
    Fifth funding to establish an auto financing company, investor shall satisfy the following conditions: (a) legally established enterprises in and outside China.
    Non-financial institutions, its most recent year total assets of not less than 4 billion yuan currency or its equivalent in a freely convertible currency, and annual revenues of no less than 2 billion yuan or its equivalent in a freely convertible currency; non-bank financial institutions, its registered capital of no less than 300 million Yuan, or its equivalent in a freely convertible currency.
    (B) the good business performance in recent 3 years of continuous profit.
    (C) compliance with the registration law, no illegal and criminal acts.
    (D) the main contributor to the auto companies, non-bank financial institutions.
    Auto enterprise refers to the production or sale of automobile business.
    Main contributor is the contribution amount the largest amount shall not be less than the proposed auto finance company's total equity 30% of the people.
    (E) that the same shall not invest in more than one auto finance company.
    (F) the China Banking Regulatory Commission other prudent requirements as specified by.
    Article sixth of the auto financing company shall satisfy the following conditions: (a) comply with the minimum registered capital required by this approach.
    (B) is in conformity with the People's Republic of China company law and other related laws and regulations required by this approach.
    (C) senior management familiar with auto financing and related services personnel.
    (D) have a sound organizational structure, management system and risk control system.
    (E) has the business operations of business premises, safety measures and other facilities.
    (Vi) other conditions specified by the China Banking Regulatory Commission. Article seventh auto finance companies the minimum registered capital of 500 million Yuan or its equivalent in a freely convertible currency.
    Registered capital paid-up capital.
    China Banking Regulatory Commission, according to the auto financing business development and prudential needs, you can adjust the minimum amount of the registered capital, but shall not be less than the limits prescribed in the preceding paragraph. Eighth of an auto financing company shall cover the preparation stage and the opening two stages.
    Opened applications for the preparation and the information submitted by the applicant, write in Chinese shall prevail. Nineth applications to build auto finance company, by the main contributor, as the applicants submit the following documents to the China Banking Regulatory Commission: (a) to build applications.
    Its content should include the proposed establishment of auto finance company name, company location, registered capital, contributors and their respective contributions, scope of business, and so on. (B) feasibility study for the establishment of an auto financing company.
    Included in the proposed company's market analysis, future business development planning, organization, management structure and risk control ability, the company 3 years after opening balance sheets and earnings forecasts and other content.
    (C) the proposed establishment of an auto financing company (a draft).
    (D) funding basic information, including name, legal representative, registered address, copy of business license, business and so on.
    (E) the last 3 years audited by the statutory bodies of the investors of the balance sheet, income statement and cash flow statement.
    (Vi) in charge of the preparation name and resume.
    (VII) other documents required by the China Banking Regulatory Commission. The applicant is a foreign non-bank financial institutions, should provide when applying for construction issued by the financial regulatory authorities in their comments in writing.
    Applicants for non-financial institutions, rating agencies should be provided to the applicant when applying for construction last 1 years credit rating report.
    Tenth China Banking Regulatory Commission, receiving the complete preparation application within 6 months from the date of approval in writing. The 11th applicant shall, upon receiving the approval of the China Banking Regulatory Commission within 6 months from the date of the letter, complete the preparation.
    There is a valid reason to extend the preparation period, shall before the expiry of the period for the provision of a written application to the China Banking Regulatory Commission approval can be extended to 3 months.
    To build or extend the expiration period, the applicant did not apply for business commencement, original construction approval decisions void.
    Its preparation period shall not be engaged in business activities on behalf of the auto financing company.
    The 12th applicant shall before the expiry of the deadline of the establishment or extension, apply for business commencement to the China Banking Regulatory Commission, and submit the following documents and information: (a) on completion of the preparation report and application for business commencement.
    (B) the Chinese capital issued by a statutory capital verification organization certificate, issued by the administrative authority for industry and Commerce pre approved registration of the proposed name.
    (C) Statute of the auto financing company.
    (D) the names and detailed resumes of proposed senior managerial personnel.
    (E) name of shareholder and capital contribution.
    (F) the proposed business rules and procedures and internal control system.
    (VII) issued by relevant authorities on business premises and other business-related facilities verification documents.
    (VIII) other documents required by the China Banking Regulatory Commission. The 13th opening of China's Banking Regulatory Commission since receiving the complete application documents and materials within 3 months from the date of approval opened opened or not to approve the decision. Decides to approve the opening of, and notify the applicant in writing, financial business licences issued, approved its business scope.
    Opening are not approved, and shall notify the applicant in writing and state the reasons.
    The applicant the license to the Administrative Department for industry and commerce registration, receive the business license before they can operate.
    Auto finance companies since the date of business license, 3 months without good reason are not opened or ceases to 6 consecutive months after opening, the China Banking Regulatory Commission to withdraw its license, and shall be published.
    The 14th auto financing companies may establish branches.
    15th the China Banking Regulatory Commission imposed on auto finance company executives the qualification approval or registration system. Auto Finance Company Board Chairman, General Manager and Vice President, Director and Chief Financial Officer, the qualification shall be approved by the China Banking Regulatory Commission review.
    Qualification of the relevant senior management personnel and its approval or for the record program separately.
    16th auto finance companies have one of the following changes, shall be approved by the China Banking Regulatory Commission: (a) the change of the company name.
    (B) the change of its registered capital.
    (C) change of business premises.
    (D) change of business scope.
    (E) change of organizational structure.
    (F) change of equity structure.
    (G) revision of articles.
    (VIII) replacement of senior management.
    (IX) the merger or Division.
    (J) other changes that require the approval of the China Banking Regulatory Committee.
    17th auto finance companies because of dissolution, closure or bankruptcy, shall be terminated, its liquidation shall be handled in accordance with the relevant laws and regulations.
    Chapter III business scope and supervision the 18th approved, auto financing company may conduct renminbi business partly or all of the following: (a) the accepting shareholders within the unit for more than 3 months term deposit.
    (B) providing car loans business.
    (C) loans to auto dealers for purpose of purchasing vehicles and business equipment loans (including the show-room construction, and spare parts and equipment repairs).
    (D) transferring and selling auto loan receivables business.
    (E) loans to financial institutions.
    (F) to guarantee loans to car buyers.
    (VII) relating to auto purchase financing service.
    (VIII) other loan business approved by the China Banking Regulatory Commission.
    19th auto financing companies issuing car loans to natural persons should comply with the relevant regulatory provisions on personal auto loans; corporate provision of auto loans or other organizations shall comply with the relevant provisions of the General principles of loan requirements. 20th without the approval of relevant regulatory authorities, an auto financing company shall not issue bonds or borrow funds from overseas.
    Auto finance companies to set up operations and involve currency exchange, outward repatriation of profits paid to non-residents, and auto loans, capital management and other matters of Foreign Exchange Administration, made by the relevant regulatory authorities and the State administration of foreign exchange regulations. 21st an auto financing company shall implement capital and risk assets ratio control and management. Auto finance companies ' capital adequacy ratio shall not be less than 10%, depending on the auto finance company of China Banking Regulatory Commission risk profile and risk management capabilities, can improve the individual minimum capital adequacy standards.
    For additional specific requirements on risk control and management of all types of assets, shall be determined separately by the China Banking Regulatory Commission.
    22nd an auto financing company shall implement the relevant financial and accounting system in financial enterprises.
    The 23rd auto finance companies should be required to prepare and submit to the China Banking Regulatory Commission the balance sheet, income statement, cash flow statement and other reports required by the China Banking Regulatory Commission, and submitted within 3 months after the end of each fiscal year financial report of the previous year.
    An auto financing company shall not provide false financial accounting reports or concealing important facts.
    24th of an auto financing company shall make reference to the people's Bank of China called for in the guidelines on internal control of commercial banks, establish and improve the operations management system and internal control system, and to report in the system prior to the implementation of the China Banking Regulatory Commission.
    25th of an auto financing company shall accept the China Banking Regulatory Commission on the implementation of on-site inspection and off-site.
    26th under the day-to-day supervision of China Banking Regulatory Commission found problems can contribute to the auto finance company's legal representative and other senior managers in question and ordered the company to correct within. 27th an auto financing company shall establish a system of external audit on a regular basis.
    Shall, within 6 months after the end of each fiscal year, will be confirmed by the signature of the legal representative's annual audit report submitted to the China Banking Regulatory Commission.
    28th an auto financing company in payment difficulties or other emergencies, shall take remedial measures, and to report immediately to the China Banking Regulatory Commission.
    29th auto finance company, one of the following conditions occurs, depending on the circumstances, the China Banking Regulatory Commission ordered to clean up: (a) current year losses more than the registered capital of the 50% or 30% of the registered capital of the accumulated losses of more than 3 consecutive years.
    (B) in payment difficulties.
    (C) other significant operational risks, the China Banking Regulatory Commission deems necessary.
    30th the China Banking Regulatory Commission ordered after the auto finance company, the auto finance company, the following measures can be: (a) demanding or prohibiting the change of the company's senior managers.
    (B) suspend part of its business or prohibiting the company new businesses.
    (C) requests within the time stipulated in the capital increase.
    (D) order to auto finance companies to change ownership structure in the form of reorganization.
    (E) prohibiting the dividend distribution.
    (F) other measures of China Banking Regulatory Commission deems necessary.
    31st an auto financing company through reorganization, subject to the following conditions, by the China Banking Regulatory Commission approved the end reorganizations: (a) capacity to pay was restored.
    (B) the losses be made up.
    (C) the major operational risks are addressed.
    32nd of an auto financing company period of not more than 1 year, fails to achieve the goal of reorganization, according to law market. 33rd auto financing companies may establish a trade association, and self-regulation.
    Self-regulatory organizations to carry out activities, shall be subject to the guidance and supervision of China Banking Regulatory Commission. Fourth chapter legal responsibility 34th article without China banking supervision Management Committee approved, unauthorized established car financial company or illegal engaged in car financial business of, by China banking supervision management committee law be banned; constitute crime of, law held criminal; is not constitute crime of, by China banking supervision Management Committee confiscated illicitly acquired, and at illicitly acquired 1 time times above 5 times times following of fine; no illicitly acquired of, by China banking supervision Management Committee ordered corrected,
    And a fine of less than 100,000 yuan and 500,000 yuan.
    The 35th article without the approval of the China Banking Regulatory Commission, without authorization, used in the name of "auto financing" or "auto loan" that engagement in auto financing business, the China Banking Regulatory Commission ordered to correct, and a 1000 Yuan fine.
    Article 36th auto finance companies beyond the scope of business approved by the China Banking Regulatory Commission is engaged in financial business activities and given a warning, confiscate the illegal income and illegal gains more than 1 time 5 times less fine; no illegal proceeds, of less than 100,000 yuan and 500,000 yuan fine constitute the crime of illegal business operations or the crime, criminal responsibility shall be investigated according to law.
    37th auto financial company in violation of the relevant provisions, provide false financial accounting reports or concealing important facts, be warned by the China Banking Regulatory Commission, and to a fine of up to 100,000 yuan and 500,000 yuan constitutes a crime of providing false financial accounting reports or other crimes, criminal responsibility shall be investigated according to law.
    Article 38th automobile financial company in violation of the relevant provisions, refuse or hinder supervision according to law, the China Banking Regulatory Commission warning and fines of between 10,000 yuan and 30,000 yuan.
    39th auto financing company in violation of this regulation, except pursuant to 34th to 38th of the relevant provisions of this chapter to penalties, the circumstances are serious, the China Banking Regulatory Commission can cancel the 1-10 of senior managers of the company until my life's qualifications for senior managers of financial institutions.
    40th of an auto financing company in violation of other Chinese laws and regulations, by the competent authorities according to law.
    The fifth chapter supplementary articles article 41st Hong Kong S.A.R., and Macau S.A.R. and Taiwan investors in the Mainland to establish an auto financing company shall apply these measures.
                                                                      42nd these measures shall come into force on October 3, 2003, and is responsible for the interpretation of the China Banking Regulatory Commission.