Legal basis: Measures for the Administration of Auto Financing Companies
Article 19 With the approval of China Banking Regulatory Commission, an auto financing company may engage in some or all of the following RMB businesses:
(1) Accepting time deposits of overseas shareholders and their wholly-owned subsidiaries in China and domestic shareholders for more than three months;
(two) accept the car dealer car loan deposit and the lessee car rental deposit;
(3) Issuing financial bonds upon approval.
(4) engaging in interbank borrowing.
(5) Borrowing from financial institutions;
(6) Providing auto loan business;
(seven) to provide loans for automobile dealers to buy vehicles and operating equipment, including exhibition hall construction, spare parts and equipment maintenance loans;
(8) Providing auto financing leasing business (except for sale and leaseback business);
(9) Selling or repurchasing the receivable auto loans and auto financing leases to financial institutions;
(ten) for the sale and disposal of taxi residual value;
(eleven) engaged in consulting and agency business related to automobile financing activities;
(twelve) approved, engaged in equity investment business of financial institutions related to auto finance business;
(13) Other businesses approved by China Banking Regulatory Commission.
Article 20 An auto financing company shall abide by the Measures for the Administration of Auto Loans and other relevant provisions when granting auto loans.
Article 21 Where an auto financing company is involved in foreign exchange management in its operation, it shall abide by the relevant state regulations on foreign exchange management.