New regulatory framework to focus on professional service quality in the automotive finance industry
On
19 February, the China Banking and Insurance Regulatory Commission (CBIRC)
issued its latest regulatory updates for the automotive
sector – theAutomotive Finance Company Rating Regulations (the Rating Regulations) – which aim to enhance risk management mechanisms and improve the quality
of professional service provision in the sector.
This
comprehensive set of regulations divides regulatory rating elements into six
parts: corporate governance, capital management, risk management, professional
service capabilities, consumer rights protection, and information technology
management – proportionally
weighted at 10,
10, 35, 20, 15, and 10 per cent, respectively. Based on the rating
results, automotive finance companies will be graded from 1 to
5, with an additional “S” classification, with eachbeing subject to different
levels of regulatory scrutiny.
Last
July, CBIRC revised its existing Automotive Finance
Company Management Measures, instituting systematicarrangements for regulating automotive finance companies. Building on this, the Rating Regulations provide more
implementable regulatory measures, based on a system of
rating outcomes that are bound to have a direct influence on
the business scope of automotive finance entities.
Compared
to previously announced regulatory measures for trust companies and financial
companies of enterprise groups, these new
regulations for the automotive finance sector emphasise“professional service capabilities,” which account
for a significant 20 per cent of the rating criteria. CBIRC officials pointed out that this special setting highlights a renewed orientation toward enhancingprofessional capabilities in the automotive finance business as a matter of regulatory priority. The aim is to encourage the
industry to focus on maximising automotive consumption and leveraging specialised expertise to improve financial
services in the sector.
Please
contact beijing@sandpipercomms.comfor further analysis of relevant policies.
新规通过分级监管的方法，对汽车金融公司进行精细化、差异化的监管，引导汽金公司提升自身的风险管理和专业能力，以更好地为汽车行业提供金融服务。
2月19日，国家金融监管总局印发《汽车金融公司监管评级办法》（《评级办法》），将监管评级要素分为公司治理、资本管理、风险管理、专业服务能力、消费者权益保护、信息科技管理等六个部分，分值比重分别为10%、10%、35%、20%、15%和10%。根据评级结果，汽车金融公司从优到劣将被分为1-5级和S级，不同级别的公司将受到不同程度的监管关注。
去年7月，金融监管总局修订了《汽车金融公司管理办法》，对汽金公司的业务范围进行了调整，对其监管做出制度性安排。《评级办法》在此基础上提供了更具操作性和可落实性的监管措施，并指出监管评级结果“应当作为汽金公司业务分级分类监管的审慎性条件”。这也就意味着，汽车金融公司的业务范围将直接受到监管评级结果的影响。
相比此前公布的信托公司、企业集团财务公司监管评级办法，此次对汽车金融行业制定的办法特别设置了“专业服务能力”这一监管评级要素，且占比较大，为20%。国家金管局的相关负责人指出，这一特别设置突出强化汽车金融公司专业能力建设的监管导向，意在引导该行业围绕汽车产业和汽车消费，提升专业金融服务能力，发挥专营专业特色功能。
如需对相关领域的详尽解读，请联系beijing@sandpipercomms.com。
What's New?
China Two Sessions Services
”
China's much anticipated annual National People's Congress (NPC) and the Chinese People's Political Consultative Conference (CPPCC), also known as the Two Sessions, will begin on Monday, March 4.
The conferences have profound implications for businesses and governments worldwide. To gain insights on what to expect at the Two Sessions 2024 and to obtain timely intelligence briefings and detailed analyses, take a look at our exclusive Two Sessions Services by clicking "Read More".
Sandpiper 基誉公关
Sandpiper is a strategic communications and public affairs consultancy that supports clients in understanding China’s dynamic policy environment through monitoring, reports, and timely alerts. For any business inquiries about stakeholder and issue mapping, expanding government outreach, and cultivating media relations, or any other services, please email beijing@sandpipercomms.com.
基誉公关是一家战略传播和公共事务咨询公司。我们通过政策监测、解读和预警，帮助客户实时追踪、理解中国的政策动态和市场环境。如需了解利益相关方和议题规划、扩展政府人脉、媒体关系，或者有任何其他业务咨询，请发送邮件至beijing@sandpipercomms.com。
This material has been prepared by Sandpiper, a strategic communications and public affairs consultancy, in the belief that it is fair and not misleading. The information upon which this material is based was obtained from sources believed to be reliable, but has not been independently verified; we do not guarantee its accuracy. This communication is being provided for informational purposes only.
Inform. Create. Shape
