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汽车金融公司管理办法(英文版)Administrative Rules Governing the Auto Financing Company (来源:英语博客 http://space.englishcn.com)


China Banking Regulatory Commission No. 4 Order
Upon the approval of the State Council, the Administrative Rules Governing the Auto Financing Company is now promulgated by the China Banking Regulatory Commission.

 

 

Chairman Liu Mingkang

October 3, 2003

 

 

Administrative Rules Governing the Auto Financing Company
Chapter I General Provisions
Article 1 The Administrative Rules Governing the Auto Financing Company (hereinafter referred to as the Rules) is stipulated in accordance with relevant laws and regulations to serve the need of developing auto financing business and regulating the business activities of the non-bank financial institutions engaging in auto financing business.

 

Article 2 Auto financing companies referred to in the Rules are defined as non-bank financial legal entities charted by the China Banking Regulatory Commission in compliance with relevant laws, regulations and the Rules to provide loans for auto buyers and dealers in the mainland of China.

 

Article 3 Auto financing companies are supervised and regulated by the China Banking Regulatory Commission.

 

Chapter II Incorporation, Change and Termination


Article 4 The establishment of an auto financing company shall be subject to the approval of the China Banking Regulatory Commission.

 

Without the approval of the China Banking Regulatory Commission, no individual or entity shall be allowed to establish an auto financing company, or engage in auto financing business, or include in the name of a company such names as “auto financing” or “auto loan” that indicate the company’s engagement in auto financing business

 

Article 5 An investor of an auto financing company shall satisfy following requirements:

(a) It shall be a corporate legal entity incorporated in and outside China.

If the investor is a non-financial entity, its total assets of the previous year shall be no less than RMB4 billion yuan or an equivalent amount in convertible currencies; its annual business revenue of the previous year shall be no less than RMB2 billion yuan or an equivalent amount in convertible currencies.

If the investor is a non-bank financial institution, its registered capital shall be no less than RMB300 million yuan or an equivalent amount in convertible currencies;

(b) It shall have sound business performance and remain profitable for the last three consecutive years;

(c) It shall comply with the laws of the countries where it is incorporated and shall have a clean record;

(d) In case of the largest investor, it shall be an auto enterprise or a non-bank financial institution.

The auto enterprise refers to an enterprise that manufactures and sells the whole unit of an automobile.

The largest investor refers to the investor with the largest share of capital and its capital contribution accounting for no less than 30 percent of the total equity of the auto financing company;

(e) It shall not invest in more than one auto financing company; and

(f) It shall satisfy other prudential supervisory requirements set forth by the China Banking Regulatory Commission.

 

Article 6 An auto financing company shall satisfy the following conditions in order to be incorporated:

a) the minimum amount of registered capital required by the Rules;

b) Articles of Association that complies with relevant laws including the Company Law of the People’s Republic of China and the Rules;

c) senior management familiar with auto financing and other related business;

d) a sound organizational structure, management and risk control systems;

e) proper business premises, safety measures and other facilities for business operations; and

f) other conditions set out by the China Banking Regulatory Commission.

 

Article 7 The minimum registered capital of an auto financing company shall be no less than RMB500 million yuan or an equivalent amount in convertible currencies. Registered capital shall be paid-in capital.

 

The China Banking Regulatory Commission shall have the power to adjust the minimum registered capital of an auto financing company in line with the developments of auto financing business and the prudential requirements, but the adjusted floor shall not be lower than the amount provided in this Article.

 

Article 8 The establishment of an auto financing company shall cover two stages, i.e. the preparation stage and the business commencement stage. The Chinese text of all application documents for the preparation and the business commencement stages shall prevail.

 

Article 9 To apply for the preparation of a prospective auto financing company, the largest investor of the company shall act as the applicant and submit the following documents to the China Banking Regulatory Commission:

(a) an application letter, including the auto financing company’s name, location of incorporation, registered capital, business scope and investors’ names and amounts of investment, etc.;

(b) a feasibility study on establishing the auto financing company, including a market analysis, a business plan, the organizational structure, an assessment of the company’s risk control capability, the proforma balance sheet and profits in the following three years after the business commencement;

(c) an Articles of Association of the auto financing company (a draft note);

(d) basic information of each investor of the auto financing company, including name, legal representative, location of incorporation, a photocopy of the business license and a summary of business performance, etc.;

(e) the investor’s balance sheet, profit and loss statement and cash flow statement for the latest three years audited by qualified auditing firms;

 
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