对于许多消费金融公司而言，尽管拥有看似优质的股东，但股东资源有时难以充分转化为自身业务助 力，与第三方互联网平台合作助贷成为获取客户的重要途径。在助贷模式中，助贷方能够利用自身在获 客渠道、数据信息和风控技术等方面的优势，为消费金融公司推荐客户，在数字、智能等新型消费场景 中，提供定制化的金融产品和服务，满足消费者的需求。 《通知》落地后，《金融时报》记者注意到，包括银行和消费金融公司在内的一些金融机构开始响应。 5月12日，尚诚消费金融率先在公司官网上的"消费者权益保护信息披露"栏目披露助贷合作机构名单及 产品信息，此前还在公司官网公示了借款合同模板。此外，披露相关信息的还有几家地方商业银行。 今年4月初，国家金融监督管理总局印发《关于加强商业银行互联网助贷业务管理提升金融服务质效的 通知》(以下简称《通知》)，其中提出"商业银行总行应当对平台运营机构、增信服务机构实行名单制 管理，通过官方网站、移动互联网应用程序等渠道披露名单，及时对名单进行更新调整。" 《通知》在助贷领域首提"名单制管理"，要求包括商业银行及消费金融公司在内的金融机构对合作机构 实行名单制管理。 目前，各机构落实情况如何？ 消费金融行业 ...

"618"进程过半。近日，新浪金融研究院的一份《分期消费习惯调研》显示，"能赚会算"、"能花会 省"的人更爱用分期免息的方式进行消费，85%的消费者在有能力付全款的情况下，只要商品支持分期 免息，就会优先使用分期免息付款。 85%消费者能全款也选分期免息 作为上半年最重要的电商大促，今年"618"自5月13日启动，已经进展过半。记者发现，今年"618"相比 往年有很多新变化，立减、国补、消费券、分期免息成为关键词。 调研还发现，收入不错、学历高、有理财习惯的人多在用分期免息。近八成使用分期免息的消费者，税 后月收入在5000元以上，87%为本科以上学历。86%的消费者使用分期免息的同时，有钱在理财，且近 半数理财持仓超过5万元。 数据也显示，"618"期间，使用分期免息的女性消费者占到了63%，使用分期免息消费者最多的三个省 份，也是以"能赚会算"出名的，分别是广东、浙江、江苏。 商家也积极迎合消费者的这一消费习惯。在淘宝天猫平台可以看到，手机、电脑、数码、家电、家装、 电动二轮车、运动户外、珠宝首饰等品类，数万款热销商品，都为消费者提供了花呗分期12期免息。 来自花呗分期的数据显示，"618"首轮销售期间， ...

Core Viewpoint - The entry of JD Group into the consumer finance sector through the acquisition of Jiexin Consumer Finance marks a significant shift in the industry landscape, indicating a trend of "the rich getting richer" as major players strengthen their positions amid stricter regulations and market challenges [2][8]. Company Summary - Jiexin Consumer Finance, established in November 2010, was one of the early pioneers in China's consumer finance sector, expanding rapidly through offline marketing strategies and reaching an asset scale of 104.5 billion yuan by 2019 [3]. - However, due to intensified market competition and regulatory tightening, Jiexin faced significant losses, reporting a net profit of -3.199 billion yuan in 2023 and continuing its downward trend into 2024 [3]. - The company’s total assets were approximately 4.903 billion yuan, with total liabilities around 7.233 billion yuan, resulting in a net asset deficit of about -2.34 billion yuan, indicating severe financial distress [3]. - The rebranding to JD Consumer Finance represents a transformative opportunity for Jiexin, leveraging JD's technological and market advantages to revitalize its business model [3][4]. Industry Summary - The consumer finance industry is undergoing a restructuring phase, with major internet companies like JD, Baidu, and Alibaba entering the market, which may lead to a significant reshaping of competitive dynamics [2][4]. - The industry is characterized by a "Matthew Effect," where leading companies with substantial capital and advanced risk control technologies continue to dominate, while smaller firms struggle to survive [8]. - As of the end of 2024, there were 31 consumer finance companies in China, with a notable increase in the concentration of capital among top players, while some smaller firms faced challenges in meeting regulatory requirements [6][7]. - The competitive landscape is becoming increasingly complex, with traditional banks and numerous internet companies vying for market share, intensifying the pressure on new entrants like JD Consumer Finance [6][8].

Core Viewpoint - The report "Financial Reshaping Consumption Power" emphasizes the necessity of boosting consumption in the context of economic transformation, highlighting the role of the financial industry in transitioning from mere "funding supply" to "ecosystem construction" [1][4]. Group 1: Consumption Boosting as an Economic Imperative - The need to boost consumption has shifted from an optional strategy to a mandatory requirement due to significant changes in the global economic landscape and domestic economic transformation [3]. - In 2024, the contribution rate of final consumption expenditure to economic growth in China is projected to be 44.5%, a notable decline from 2023 [3]. Group 2: Financial Role in Consumption Enhancement - The core logic for boosting consumption is encapsulated in the concepts of "ability to consume," "willingness to consume," and "daring to consume," which are interrelated and essential for a comprehensive approach to consumption enhancement [4]. - Financial mechanisms can effectively alleviate budget constraints through consumer credit, thereby facilitating the realization of consumption desires and stimulating economic circulation [4][5]. - The report warns against excessive financialization, which could lead to risks such as capital idling and squeezing real consumption demand [4]. Group 3: Financial Product and Service Diversification - Financial institutions are encouraged to provide a diverse range of products and services to lower consumption barriers and meet the varied needs of consumers, thereby unleashing consumption potential and driving overall economic expansion [6][7]. - The report identifies credit policies as a primary tool for boosting consumption, noting a significant drop in loan interest rates from the "3" range to the "2" range due to competitive pressures [7][8]. Group 4: Institutional Transformation and Collaboration - Financial institutions are transitioning from a focus on "traffic competition" to "ecosystem co-construction," with banks and consumer finance companies diversifying their offerings to enhance user engagement [11][12]. - The rise of consumption-related REITs has become a new highlight in the capital market, with an average increase of over 30% in the first quarter of 2025 [12]. Group 5: Innovation and Risk Management in Financial Services - Financial technology is seen as a key to breaking through existing challenges, with significant improvements in digital risk control models leading to lower non-performing loan rates [13]. - The report emphasizes the importance of balancing policy incentives with risk prevention to maintain a healthy cycle between consumption finance and the real economy [13][14].

5月28日上午，由北京商报社、《中外企业文化》杂志社主办的"2025深蓝媒体智库年度论坛"主论坛在北京国际饭店举行。 主论坛上，北京日报社副总编辑李学梅出席并致辞。她表示，专业媒体在促进国内消费进程中肩负着特殊使命。深蓝智库的建设顺应了用户对财经、媒体、 资讯、信息、服务的新需求，是媒体融合发展转型的积极探索。 2025深蓝媒体智库年度论坛以"创新消费力 统一大市场"为主题，首次采用"主题+专题"模式，同步设置"未来旅游""酒业文化""餐饮产业"三场专题论坛，聚 焦旅游业、酒业、餐饮产业的高质量发展路径，并重磅发布6份深蓝智库年度报告，涵盖消费金融、人形机器人、文化出海等热点领域。来自产学研媒政各 界的数百位嘉宾齐聚一堂，共同探索提振消费、激活民营经济、推动创新融合的实践方案。 李学梅在致辞中表示，此次论坛的举办不仅为消费市场的高质量发展提供了思想碰撞与实践指南，为各界精英搭建了一个交流思想、分享经验、共商发展的 高端平台，更通过"主题+专题"模式、跨界资源整合、智库成果落地等诸多形式，深入探讨了消费、旅游、酒业、餐饮等领域的前沿热点问题，为推动各产 业高质量发展提供了有益的思路与建议，彰显了媒体智库在新时代 ...

经历一个月的报送征集，金鼎奖·金融助力消费优秀案例征集活动也将迎来尾声。距离活动结束倒计时 仅剩3天，欢迎各单位继续踊跃报送！ 一、征集范围与类别 征集对象：银行机构、保险机构、消费金融公司、支付机构等 征集类别： 1）消费场景创新类 2）支付便利化类 案例方向：App支付优化、跨境支付服务、数字人民币应用等 参考案例：A银行数字人民币"智能合约"支付系统、C险企实现车险理赔"秒级到账"支付服务 3）消费信贷创新类 案例方向：个人消费贷款产品（新市民安居贷/绿色家电贷）、保险金融融合产品、信用卡权益活动等 参考案例：E险企"新能源汽车贷保一体化"方案（车贷+保险+充电补贴） 4）政银企联动类 案例方向：联合政府、企业开展消费券发放、惠民促销活动等 参考案例：A机构联合总工会"百万补贴加油"、B机构助力老字号消费 案例方向：线上线下融合场景（如智慧菜场、商圈数字化）、信用卡分期场景（如家电、汽车分期）、 文旅消费生态圈等 参考案例：A机构打造"智慧菜场生态圈" 5）绿色消费促进类 案例方向：绿色金融支持低碳消费、循环经济项目等 参考案例：H银行"个人碳账户+绿色积分"双驱动体系 6）其他 案例方向：不在以上范围 ...

5月9日，中国人民银行发布的《2025年第一季度中国货币政策执行报告》提出，支持汽车金融公司和消 费金融公司发行金融债券，研究适度提升消费类信贷资产证券化注册额度，推动消费领域可证券化资产 范围适度扩容，增加信贷资金供给支持。 在政策持续发力提振消费的背景下，2025年，消费金融发行ABS的市场呈现出蓬勃发展的态势。数据显 示，截至5月23日，今年以来，银行、互联网消费贷款ABS发行总额已经突破千亿元，达到1138.47亿 元。 近日，惠誉博华发布2025年第一季度资产证券化市场运行报告显示，个人消费金融中资产支持票据 （ABN）发行量同比大幅增长。一季度，ABN发行117单，发行金额973.1亿元，发行规模较上年同期大 幅增长53.3%。其中，个人消费金融ABN发行35单，发行金额316.4亿元，较上年同期分别增长169.2% 和213.2%。个人消费金融ABN作为发行主力，规模占比为32.5%，其他主要类型交易还包括小微贷款 ABN和融资租赁ABN。 随着居民消费结构持续升级，旅游、餐饮、装修等服务消费场景需求持续升温，作为促消费的重要力量 之一，消费金融公司正通过不断增强自身实力，在优化消费信贷服务上持 ...

现代经济体系中，消费金融占据着举足轻重的地位，从宏观层面看，其是拉动内需的重要引擎，通过释 放居民消费潜力，促进商品和服务的流通，进而推动整个经济循环的顺畅运转；从微观角度而言，亦是 满足消费者多样化需求、提升生活品质的有力支撑，为个人和家庭提供了实现消费升级的可能。 增速换挡 何为消费金融？作为现代金融体系的重要组成部分，其是以消费者为服务对象，旨在满足个人和家庭对 最终商品和服务消费需求的金融活动。 通过消费信贷支持，一方面可帮助消费者平滑跨期消费，实现消费效用最大化；另一方面也在促进消费 升级、拉动内需、推动实体经济发展等方面发挥着重要作用。 从参与主体来看，消费金融领域涵盖了多元化的金融机构。 其中，商业银行凭借广泛的网点布局、雄厚的资金实力和完善的风控体系，在消费金融市场占据重要地 位，主要提供信用卡、个人消费贷款等产品；消费金融公司作为专业的持牌机构，则专注于消费信贷业 务，具有审批流程快、产品灵活多样等特点；此外，互联网金融平台则依托大数据、云计算等技术优 势，创新推出线上消费信贷产品，如蚂蚁集团的花呗、借呗，京东科技的京东白条等；此外，还有汽车 金融公司、小额贷款公司等，也在细分领域为消费者提 ...

Core Insights - The government work report for 2025 emphasizes the importance of boosting consumption and enhancing investment efficiency as a top priority for expanding domestic demand [1] - Consumer finance companies are crucial in activating small credit demand to inject financial momentum into the consumption market, particularly targeting underbanked long-tail customer segments [1][3] - The industry faces significant challenges due to intensified market competition and stricter compliance requirements, necessitating innovation in business models, risk management, and digital transformation [1][6] Industry Overview - As of now, there are 31 licensed consumer finance companies in China, with 22 being bank-affiliated and the rest funded by industrial institutions and e-commerce [3] - The total asset scale and loan balance of the consumer finance industry have both surpassed one trillion yuan, indicating a robust growth trend despite a slowdown in overall growth rates [3] - Six consumer finance institutions have total assets exceeding 60 billion yuan as of the end of 2024, with leading players like Ant Group and Zhaolian maintaining strong positions [3] Market Dynamics - Consumer finance companies primarily offer small, unsecured loans to individuals, catering to daily consumption needs, with most products targeting low to middle-income groups [3][4] - The average loan amount is typically below 50,000 yuan, with terms not exceeding 12 months and annual interest rates ranging from 5% to 24% [3] - The focus on underserved markets and long-tail customers is fundamental to the inclusive finance approach of consumer finance institutions [4] Innovation and Technology - The application of new technologies such as AI, big data, and cloud computing has significantly reduced risk pricing and expanded product diversity, enhancing accessibility for consumers [8] - Many consumer finance institutions are leveraging digital tools to integrate services like installment payments and credit loans into various consumer scenarios, thereby increasing user engagement [8] - The industry is encouraged to build an open ecosystem that promotes data sharing and collaborative marketing, utilizing technology for personalized services [8][10] Challenges and Compliance - The industry is experiencing a shift from growth-focused strategies to refined operations, with a clear divide between leading and lagging institutions [6] - Increased competition has led to a rise in customer acquisition costs and regulatory pressures, prompting institutions to innovate in marketing and compliance [7] - Rising non-performing loan rates and the infiltration of illicit financial activities pose significant risks to the operational stability of consumer finance companies [7] Future Outlook - The industry is expected to continue focusing on digital transformation and self-operated capabilities to create differentiated financial services [8][10] - There is a call for supportive policies to enhance the lending capacity of consumer finance companies, including adjustments to loan limits and diversified financing channels [10] - Targeting new customer segments such as employees of emerging productivity enterprises and residents of lower-tier cities is seen as a key growth opportunity [9][10]

捷信消金2024年的盈利表现并不代表其核心业务恢复，而更像是重组带来的阶段性"财务修饰"。对京东而言，真正的挑战是如何激活这一资质脆弱的平 台，重塑其在消费金融领域的可持续竞争力。 觊觎消费金融牌照已久，京东终于借捷信消费金融有限公司（以下简称"捷信消金"）重组之机成功入局。时隔半年，天津京东消费金融有限公司（以下简 称"京东消金"）正式亮相，标志着京东在消费金融领域的关键一子正式落定。 近日，天津金融监管局正式批复捷信消金更名申请，公司中文名称变更为"京东消金"。5月26日京东消金回应称，更名不会影响已签署合同和协议的效 力，公司现有业务及客户服务将照常运行，确保平稳过渡。这一举措也意味着京东对捷信消金品牌整合工作基本完成。 图片来源：天津监管局 回顾京东入局历程，2024年12月20日，京东集团通过重组协议收购捷信消金65%股权，成为控股股东。仅一个多月后，2025年1月28日，国家金融监督管 理总局批准了公司股权架构调整及注册资本变更。此后，4月21日，京东高管张含春出任法定代表人和总经理，进一步强化控股方对公司经营的主导权。 随着更名落地，京东消金的独立身份正式确立，京东在消费金融领域的战略版图也进一 ...