(January 22, 2008 Chinese Banking Regulatory Commission released 1th come into force on the date of promulgation) Chapter I General provisions article to strengthen the supervision and administration of auto financing companies and promote the healthy development of China's auto finance, according to the People's Republic of China Banking Regulatory Act and the People's Republic of China company law and other laws and regulations, these measures are formulated.
    Article auto finance companies mentioned in these measures refers to the China Banking Regulatory Commission (hereinafter referred to as the China Banking Regulatory Commission) approved the establishment, for China's car buyers and sales of non-bank financial institutions that provide financial services. Third, an auto financing company shall be marked "car finance".
    Without the approval of the China Banking Regulatory Commission, no unit or individual is allowed to engage in auto financing business, shall not be used in the name of "auto financing" or "auto loan" and so forth.
    Fourth the CBRC and its local authority shall supervise and administer the auto finance company. Second chapter institutions established, and change and terminated fifth article established car financial company should has following conditions: (a) has meet this approach provides of funded people; (ii) has meet this approach provides of minimum limit registered capital; (three) has meet People's Republic of China company law and China silver prison will provides of company articles; (four) has meet served qualification conditions of Director, and senior management personnel and familiar car financial business of qualified practitioners; (five) has sound of company governance, and internal control, and business operation
    And risk management systems; (vi) with the business operations of business premises, safety measures and other facilities; (VII) other prudent requirements as specified by the CBRC, China.
    Sixth investor of an auto financing company in China legally established inside and outside of the corporate enterprise, which the main contributor for the production or sales of auto enterprise or a non-bank financial institutions.
    Seventh investor of an auto financing company shall have at least 1 capital provider with more than 5 years a wealth of automotive finance business management and risk control.
    Auto finance company who does not have the conditions provided for in the preceding paragraph, at least for auto finance companies to introduce qualified professional management team.
    Eighth article non-financial institutions as car financial company funded people, should has following conditions: (a) recently 1 years of total assets not below 8 billion Yuan Yuan or equivalent of can free exchange currency, years business income not below 5 billion Yuan Yuan or equivalent of can free exchange currency (merged statements caliber); (ii) recently 1 years end net worth not below assets total of 30% (merged statements caliber); (three) business performance good, and recently 2 a fiscal year continuous profit;
    (Four) shares sources real legal, shall not to borrowing funds shares, shall not to others delegate funds shares; (five) comply with registered location legal, near 2 years no major illegal violations behavior; (six) commitment 3 years within not transfer by holding some car financial company equity (China silver prison will law ordered transfer of except), and in intends set company articles in the contains Ming; (seven) China silver prison will provides of other carefully sex conditions.
    Nineth as auto finance companies of non-bank financial institutions investors, in addition to provisions of the eighth from third to sixth, also should have registered capital of no less than 300 million yuan renminbi's condition or its equivalent in a convertible currency. Tenth auto finance companies the minimum registered capital of 500 million Yuan or its equivalent in a convertible currency.
    Registered capital of the one-time paid-up capital.
    According to the CBRC, China auto financing business development and prudential needs, you can raise the minimum registered capital. 11th of an auto financing company shall cover the preparation stage and the opening two stages. Application for establishment of an auto financing company, main contributor should be the applicant, according to the China Banking Regulatory Commission non-bank financial institutions of administrative licensing matters concerning application materials list and specific provisions of the formal requirements, construction, open application materials submitted.
    Application materials for the Chinese text shall prevail.
    12th without the approval of the China Banking Regulatory Commission, auto financing companies may establish branches.
    13th China Banking Regulatory Commission on auto finance company directors and senior managers implement the qualification approval system.
    14th article car financial company has following change matters one of of, should reported by China silver prison will approved: (a) change company name; (ii) change registered capital; (three) change residence or business places; (four) adjustment business range; (five) change Organization; (six) change equity or adjustment equity structure; (seven) modified articles; (eight) change Director and the senior management personnel; (nine) merged or Division; (ten) China silver prison will provides of other change matters.
    15th auto finance companies have one of the following conditions, approved by the China Banking Regulatory Commission may be dissolved: (a) the operating period as prescribed by the articles of the company expires or as specified in the articles of other causes for dissolution occurs; (b) the authorities prescribed by the articles of the company a resolution for dissolution; (c) dissolution of the merger or Division of companies need and (iv) other statutory subject matter.
    16th article car financial company has following case one of of, by China silver prison will approved, can to court application bankruptcy: (a) cannot settlement due debt, and assets insufficient to settlement all debt or obviously lack settlement capacity, voluntary or should its creditors requirements application bankruptcy; (ii) for dissolved or was revoked and liquidation, liquidation Group found car financial company property not enough to settlement debt, should application bankruptcy.
    17th auto finance companies because of dissolution, closure or bankruptcy, shall be terminated, its liquidation, in accordance with the relevant State laws and regulations.
    18th auto finance company establishment, modification, termination and qualifications of Directors and senior management approved the administrative licensing procedures, according to the China Banking Regulatory Commission, measures for the implementation of administrative licensing matters concerning non-bank financial institutions perform. Third chapter business range 19th article by China silver prison will approved, car financial company can engaged in following part or all Yuan business: (a) accept outside shareholders and where group in China full funding subsidiary and territory shareholders 3 months (containing) above regularly deposits; (ii) accept car dealer procurement vehicles loan margin and tenant people car rental margin; (three) by approved, issued financial bonds; (four) engaged in peer lending; (five) to financial institutions borrowing; (six) provides car loan business; (seven) provides Car dealer procurement vehicles loan and operating equipment loan, including Show Office construction loan and spare parts loan and maintenance equipment loan,; (eight) provides car financing rental business (sale Hou back rent business except); (nine) to financial institutions sold or repo car loan should collection and car financing rental should collection business; (ten) handle rental car residual value sold and the processing business; (11) engaged in and car financing activities related of advisory, and agent business; (12) by approved,
    Financial institutions that engage in auto financing business-related equity investment (13) other business approved by the China Banking Regulatory Commission.
    20th of an auto financing company shall comply with the management measures of auto loans car loans and other relevant provisions.
    21st auto finance companies involved in the business of Foreign Exchange Management should comply with the relevant regulations of the State administration of foreign exchange.
    The fourth chapter risk controlling, supervising and managing the 22nd an auto financing company shall in accordance with the China Banking Regulatory Commission about the financial institution's internal control guidelines and risk management requirements, establish a sound corporate governance and internal control systems, to establish comprehensive and effective risk management system.
    23rd article car financial company should comply with following regulatory requirements: (a) capital sufficient rate not end of Yu 8%, core capital sufficient rate not below 4%; (ii) on single borrowing people of award letter balance shall not over capital net amount of 15%; (three) on single group customer of award letter balance shall not over capital net amount of 50%; (four) on single shareholders and associated party of award letter balance shall not over the shareholders in car financial company of funded amount; (five) use fixed assets proportion shall not over capital net amount of 40%.
    China Banking Regulatory Commission in accordance with regulation needs to make adjustments on the above index. 24th an auto financing company shall, in accordance with the relevant provisions of credit asset classification system, and should establish a prudent asset impairment loss provision system, timely and full provision for loss on impairment of assets.
    Was not fully prepared, not for profit distribution.
    25th auto finance companies should be required to prepare and submit to the China Banking Regulatory Commission the balance sheets, income statements and other reports required by the China Banking Regulatory Commission.
    The 26th an auto financing company shall establish a system of external audit on a regular basis, and within 4 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 company registration agency of the China Banking Regulatory Commission.
    27th the CBRC and its local agencies if necessary, specify the accounting firm auto finance company operations, financial status, risk status, internal control system and the implementation of audits.
    China Banking Regulatory Commission and its agencies may request the Automobile finance company expertise and independence do not meet regulatory requirements of accounting firms.
    28th Automobile finance companies are outsourcing needs, should develop policies associated with outsourcing and management systems, including the outsourcing decision-making process, outside of those providing evaluation and management, control, business information confidentiality and security measures and emergency plans.
    Auto finance companies outsourcing agreement signed should be reported to the registration agency of the China Banking Regulatory Commission outsourcing the main risks and the corresponding risk mitigation measures.
    29th an auto financing company in violation of the rules, the China Banking Regulatory Commission ordered corrective action; overdue rectification, or behavior will seriously endanger the stable operation of the company, its clients ' legitimate rights and interests, China Banking Regulatory Commission distinguished situations, in accordance with the People's Republic of China banking regulatory provisions of the Act and other laws and regulations, to suspend operations, restrict shareholder rights and other regulatory measures. 30th auto finance company has or is likely to occur and seriously affect the customer the legitimate rights and interests of the credit crisis, the China Banking Regulatory Commission would legally take over or contributed to restructuring.
    Auto finance company law business, poor management, where the revocation would seriously jeopardize the financial order, not injurious to the public interest, the China Banking Regulatory Commission will be abolished altogether. 31st 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.
    Fifth chapter supplementary articles 32nd in China referred to in article II herein, refers to mainland China, excluding Hong Kong, Macao and Taiwan regions; alleged seller refers to dealers specializing in auto sales, excluding the auto sales of automakers and other forms.
    33rd article this way the sixth largest investor referred to in article refers to the investor the amount up to and contributions of no less than the proposed auto finance company's total equity 30% of the people.
    The 34th article 19th herein called the auto leasing business, refers to the auto finance company car-leasing, automotive and supplier selection according to the lessee or authorized, be obtained from the supplier cars according to the contract of lease to the lessee to possess, use, rental transactions charged to the lessee. 35th 19th referred to herein for sale and leaseback business, refers to the lessee and suppliers of financing lease for the same person.
    The lessee will own the car sold to the lessor and finance lease contracts with the lessor, then remove the vehicle from the lessor rental leasing form.
    36th in these measures refers to related parties mentioned in the 23rd article associated 36th issue of the accounting standard for business enterprises-disclosure of related parties, as defined in.
    The 37th article of the way to 23rd on the index method of calculation in accordance with China's banking supervisor off-site supervision index system of the relevant provisions of the report. Article 38th car in these measures refers to the automobile industry development policy as defined in the motor vehicles (except motor cycles).
    Auto finance companies involving bulldozers, excavators, mixers, pumps and other non-road vehicles-financial services, applicable mutatis mutandis to these measures.
    The 39th article of the approach by the China Banking Regulatory Commission is responsible for the interpretation.
                                                                                                                              40th these measures come into force on the date of promulgation, the management measures of the auto financing company (China Banking Regulatory Commission, 2003 4th) and the detailed rules for the implementation of the measures for the administration of auto financing companies (banking regulator [2003]23) repealed simultaneously.