Core Viewpoint - The article discusses the regulatory measures taken by financial authorities in Fujian and other regions to curb the practice of "high interest and high returns" in the automotive finance sector, emphasizing the need for a more sustainable and fair competition among banks [1][2][9]. Regulatory Actions - On June 20, the Fujian Financial Regulatory Bureau issued a notice prohibiting banks from expanding their business through "high interest and high returns" practices [1]. - Since June, various banks, including state-owned and regional banks, have begun to suspend or regulate their "high interest and high returns" offerings in automotive finance [3][10]. Market Dynamics - The "high interest and high returns" model has been prevalent in the automotive finance sector, particularly as banks compete for market share by attracting consumers and dealers [5][6]. - This competitive environment has led to a distortion in automotive finance order, making it increasingly difficult for banks to balance profit and market share [6]. Self-Regulation Initiatives - Since May, banking associations in regions like Sichuan and Henan have introduced self-regulatory agreements aimed at preventing "high interest and high returns" practices [7]. - These agreements call for banks to optimize their cooperation with car dealers, reduce actual interest rates for customers, and establish reasonable commission ratios [7]. Impact on Consumer Costs - The article highlights that banks have been using "high interest and high returns" to expand their business, which ultimately leads to increased costs for consumers [8]. - The Fujian notice specifically states that banks should not link interest rates to external commission ratios or transfer operational costs to consumers [9]. Future of Automotive Finance - Despite the regulatory push, large banks are not abandoning automotive finance but are instead moving towards a more regulated and sustainable model [15]. - The automotive finance sector remains a key area for banks, especially as they seek new avenues for retail loans following a slowdown in mortgage lending [15]. Growth in New Energy Vehicle Financing - For instance, Ping An Bank reported a 73.3% year-on-year increase in new energy vehicle loans, indicating a shift towards financing in this growing segment [16]. - Other banks, such as Industrial Bank and CITIC Bank, are also focusing on expanding their automotive finance offerings, particularly in the new energy vehicle market [17][18].
银行集体发声!整治“高息高返”业务
券商中国·2025-06-22 02:56