Group 1 - Haier Consumer Finance Co., Ltd. (referred to as "Haier Finance") celebrated its 11th anniversary, reporting a cumulative loan amount of approximately 172.4 billion yuan and serving 19.45 million real-name new citizens users [1] - The company has innovatively launched the "Smart Home Installment" service, enabling a zero-interest installment model through industry subsidies, facilitating the adoption of smart and green home appliances [1] - The "Smart Home Installment" service has been implemented in over 2,000 Haier specialty stores nationwide, with a cumulative installment amount of 130 million yuan, significantly boosting retail sales by over 30% during special promotional events [1] Group 2 - Haier Finance has issued nearly 11.2 billion yuan in Asset-Backed Securities (ABS) to optimize financing costs and improve the asset-liability structure, supporting inclusive financial innovation and AI technology development [2] - The company has submitted over 730 patent applications, with more than 95% of its 600 online operational applications being self-developed, focusing on cutting-edge areas such as AI and multimodal interaction [1] - In the innovative financing sector, Haier Finance plans to implement the industry's first "Technology Finance + Green Finance" sustainable development-linked syndicated loan of 900 million yuan by 2025 [1]

蒙商消费金融：我们充分发挥自身专业优势，坚持以客户需求为导向，持续加大家用电器、教育、 生活消费、装修、手机数码、旅游、婚庆、租房、家具、健康医疗等领域投放力度。截至目前，已累计 发放消费贷款超1000亿元，服务客户超900万人。 自2010年国内首批4家试点消费金融公司成立至今，目前，国内持牌的消费金融公司已达31家。今 年是"十四五"规划收官之年，消费金融行业经历了深度变革与质效升级的双重考验。《提振消费专项行 动方案》《关于金融支持提振和扩大消费的指导意见》等一系列政策措施接连落地，对消费金融行业产 生了深刻影响。 2025年，"提振消费""合规发展""科技赋能"和金融"五篇大文章"成了贯穿全年的关键词，消费金融 行业以合规为底线、以科技为引擎，在转型中坚守初心，于变局中开创新局。 关键词一：提振消费 今年落地实施的多项消费提振政策为2025年乃至未来较长一个时期消费金融行业的发展提供了清晰 指引。如何贯彻落实有关政策要求、适应监管变化，将政策红利转化为消费潜力，成为消费金融公司面 对的重要课题。 《金融时报》记者：消费金融公司在提振消费时重点聚焦在哪些领域？推出了哪些针对性措施？ 中邮消费金融：我们积 ...

中经记者 郑瑜 北京报道 在提振内需与扩大消费不断深化推进背景下，商务部、中国人民银行、金融监管总局于近期联合发布 《关于加强商务和金融协同更大力度提振消费的通知》（商办财函〔2025〕447号）（以下简称"447号 文"）。 记者从海尔消费金融有限公司（以下简称"海尔消金"）了解到，今年海尔消金接入银联云闪付平台，围 绕冰箱、洗衣机、空调等耐用消费品推出"智家分期"服务渗透，消费者可以实现享受国家补贴与产业贴 息双重优惠。目前智家分期已合作全国2000多家海尔专卖店，覆盖市、县、镇等各级消费市场。 海尔消金方面表示，接下来会继续将"智家分期"服务做精做细。在审批流程上，运用人工智能、大数据 等前沿信息技术手段持续优化审批流程，进一步提升审批效率与用户服务体验；在创新形式与品类覆盖 上，和产业紧密协同，探索更多创新形式和合作空间，进一步扩大金融服务覆盖范围，同时持续拓展家 电优惠品类。 在家电分期方面，招联消费金融股份有限公司（以下简称"招联消金"）自今年年初国家新一轮"以旧换 新"政策出台以来，公司通过与二手平台达成合作，推出"助力以旧换新一站式服务"，用户可在"招联金 融"APP中一站式完成从旧品估价、上 ...

Core Viewpoint - Accelerating the filling of the domestic demand gap, especially in consumption, has become a crucial topic for driving China's economic growth, with expanding domestic demand being prioritized as one of the eight key tasks for economic work in 2026 [1][10]. Policy Measures - The Ministry of Commerce and other departments have jointly issued a notification to strengthen the collaboration between commerce and finance to boost consumption, outlining 11 measures to enhance financial support in key areas and expand cooperation between government, finance, and enterprises [1][12]. - Recent policies have been introduced to stimulate market vitality and release consumption potential, including guidelines encouraging financial institutions to increase consumer loan issuance and support service consumption [2][11]. Financial Support and Collaboration - The notification emphasizes the need for a "combination punch" of policies, enhancing collaboration between financial institutions and retail platforms to improve payment services and support for consumer financing [3][12]. - Financial institutions are encouraged to innovate financial products and services that integrate into consumption scenarios, focusing on areas such as home services, education, and health, to stimulate new consumption patterns [3][13]. Market Response and Impact - Following the implementation of the consumption loan subsidy policy, significant market activity has been observed, with companies like Zhaolian Consumer Finance reporting substantial loan issuance and customer engagement [5][15]. - Merchants have gained confidence from financial policies, with promotional tools like interest-free installment plans leading to increased sales and customer engagement [5][15]. Targeting Underdeveloped Markets - The notification highlights the importance of expanding consumption in county-level markets and rural areas, recognizing their potential for growth and the need for targeted financial support [7][17]. - Financial institutions are focusing on providing services to underserved populations, including new citizens and small businesses, to enhance financial inclusion and stimulate local consumption [18][19]. Long-term Strategy - The overall strategy for boosting consumption is shifting from short-term stimulus measures to long-term, systematic approaches aimed at enhancing consumer capacity and addressing structural issues in the economy [20].

技术赋能让金融服务的适配性持续提升。依托多模态智能风控体系，海尔消金实现 "毫秒级审批响应"，新市民通过扫描海尔专卖店专属 二维码完成 OCR 认证与人脸识别后，3-5 秒即可完成商品贷款分期审批，支持在家、在店、在线三大交易场景灵活支付。这种数字化服 务能力，不仅让金融服务触达更广泛的新市民群体，更推动成交客单价提升 2.7 倍，有效牵引优质消费品供给升级。 《方案》提出到 2027 年培育 3 个万亿级消费领域的目标，其中 "推进以旧换新""扩大绿色智能供给" 等要求正通过企业实践加速落地。海 尔消金深化与地方政策的联动，将智家分期服务全面对接消费品以旧换新政策，覆盖冰箱、洗衣机、空调等补贴品类，让新市民在享受 国补的同时，叠加企业贴息优惠，双重红利持续激发消费活力。 在服务下沉方面，海尔消金依托产业城乡联动的服务网络，将金融服务延伸至县域及以下市场，打通普惠金融 "最后一公里"。这一举措 与《方案》"推动农村消费品提质升级" 的要求形成呼应，也契合行业专业人士提出的 "县域消费有望成为消费增长中长期动力" 的行业判 断。数据显示，其服务已覆盖全国多个省市的下沉市场，成为新市民从 "落脚城市" 到 "扎根 ...

Core Insights - The consumer finance sector plays a crucial role in stimulating consumption, with significant increases in loan amounts and numbers during the recent National Day and Mid-Autumn Festival holidays [1] - Consumer finance institutions are expanding credit supply to meet the financial needs of consumers for travel and shopping, supported by promotional measures such as interest-free coupons and trade-in offers [1] - The industry is evolving from pilot exploration to a new force in promoting consumption, with stable provisioning rates and robust asset quality [1] Group 1 - The consumer finance industry is focusing on expanding credit supply to stimulate consumption, particularly in daily life scenarios [2] - Institutions are leveraging their group company advantages to embed financial services into various consumer scenarios, such as home appliances and digital products [2] - There is a notable issue of service homogeneity among consumer finance institutions, which may weaken competitive advantages in the face of rising operational costs and customer acquisition pressures [2] Group 2 - The integration of technology and consumer finance is becoming essential, with data analysis helping to identify user risks and optimize product offerings [3] - Financial support for consumption is a key task this year, with guidance emphasizing the need for innovative financial products tailored to consumer scenarios [3] - The extension of consumer finance into more areas of daily life is expected to enhance domestic demand and improve living standards [3]

Core Viewpoint - Consumer finance is becoming a crucial force in expanding domestic demand in China by lowering consumption thresholds and promoting service upgrades [2] Group 1: Industry Growth and Trends - The consumer finance market is expected to show steady growth by the first half of 2025, although the growth rate is slowing compared to previous years [2] - The market expansion is primarily driven by online consumer finance products and services, as well as increasing consumer demand for convenient financial services [2] - Digital transformation is identified as a significant trend in the development of the industry [2] Group 2: Policy Support and Initiatives - In the first half of the year, various policies were implemented to stimulate consumption, including the People's Bank of China encouraging consumer finance companies to develop financial products that meet diverse consumption scenarios [3] - The government provided financial subsidies for eligible personal consumption loans and service industry loans [3] - "Interest-free" promotions became a key strategy for many institutions, with significant loan issuance and promotional activities reported [3][4] Group 3: Technological Integration - The integration of AI and digital technologies is enhancing core competencies in the consumer finance sector, particularly in risk control and marketing [6] - Major institutions are adopting advanced models and technologies to improve user risk identification and fund flow management [6] - Automated approval rates in intelligent risk control systems have reached 98%, enabling rapid responses [6] Group 4: Customer Acquisition Challenges - The consumer finance industry is facing rising customer acquisition costs due to stricter regulations and the need for improved post-loan management [8] - Traditional customer acquisition methods are costly, with average costs ranging from two to three thousand yuan [8] - Many smaller institutions struggle with customer acquisition due to reliance on external platforms and lack of robust self-acquisition capabilities [9] Group 5: Competitive Landscape - The competitive environment is intensifying as traditional banks enter the consumer credit market, offering lower interest rates and larger loan amounts [9] - Consumer finance companies often face challenges in maintaining profitability due to higher interest rates and operational costs compared to banks [9] - The disparity in customer quality between top-tier and lower-tier institutions affects the effectiveness of customer acquisition efforts [9]

Core Insights - The People's Bank of China and five other departments issued guidelines to boost consumption, proposing 19 key measures to encourage financial institutions to support consumption through various innovative financing methods [1] Group 1: Financial Support Initiatives - Haier Consumer Finance launched the "Smart Home Installment" product, offering 0 down payment, 0 interest, and 0 fees for home appliance financing, aligning with national policies to promote consumption [1] - The product integrates advanced technology into the installment process, enabling rapid approval and enhancing customer experience through a seamless application process [1][12] Group 2: Sales Performance - In Shanxi, the "Smart Home Installment" program significantly boosted appliance sales, with a single event achieving sales of over 2 million yuan, where installment transactions accounted for 38% [3] - Another event in Shanxi recorded sales of 2.36 million yuan, with installment transactions making up 35% and a 90% increase in average transaction value for installment purchases [5] Group 3: Customer Experience - Customers reported positive experiences with the "Smart Home Installment," such as a couple who, after learning about the financing options, quickly purchased a full set of appliances without any interest costs [7] - In Guizhou, 139 families utilized the installment service, with an average transaction value of 14,100 yuan per customer [8] Group 4: Product Integration and Expansion - The "Smart Home Installment" has been integrated with UnionPay's upgraded services, allowing for a seamless process from subsidy application to interest-free installment and appliance delivery [12] - The program has rapidly expanded to over 1,800 Haier stores nationwide, providing nearly 100 million yuan in interest-free loans [12]

Core Viewpoint - The integration of Haier Consumer Finance with UnionPay Cloud Flash Payment marks a significant innovation in the home appliance retail sector, creating a new ecosystem that combines installment services with national subsidies, thereby enhancing consumer experience and driving sales growth [1][3]. Group 1: Innovations and Solutions - Haier Consumer Finance addresses traditional pain points in appliance installment plans, such as the disconnection between subsidies and installment options, by integrating national and corporate subsidies into a single platform [3]. - The company leverages financial technology to achieve "millisecond-level" credit response times, increasing installment approval efficiency by three times [3]. - The service is embedded in thousands of Haier retail stores, creating a closed-loop system that encompasses product selection, subsidies, installments, and fulfillment [3]. Group 2: Market Impact and Consumer Response - The new model has shown a strong consumer pull effect, with average transaction values at participating stores in pilot regions like Shanxi and Xi'an increasing by over 30%, and the proportion of bundled purchase users rising to 45% [3]. - A customer at the Qingdao Huaxia Home Expo reported significant savings of over 11,000 yuan from national subsidies when purchasing a full set of Haier appliances, with a manageable monthly installment plan [5]. - Sales staff noted a clear increase in sales attributed to the installment option, with more customers opting for installment purchases, enhancing the overall shopping experience [5][6]. Group 3: Strategic Advantages - Haier Consumer Finance benefits from the extensive resources of the Haier Group, allowing it to effectively meet the consumption needs of home appliance users [6]. - The integration of national subsidies and interest-free installments into a single offering enhances the shopping experience for consumers, eliminating the need to choose between different subsidy options [6].

Core Insights - The primary task for economic work this year is to boost consumption and expand domestic demand, with consumer finance companies playing a crucial role in activating potential consumer spending through flexible credit supply and specialized services [1] Group 1: Consumer Finance Companies' Contributions - Consumer finance companies have been pivotal in enhancing consumption during key shopping events like the "6.18" shopping festival, which lasted over a month and set new records [1] - During the "6.18" event, the home appliance sector saw a remarkable 83% year-on-year increase in transaction volume, with many brands offering interest-free installment plans to stimulate sales [2] - Ant Group's Huabei service covers over 40 million merchants nationwide, providing interest-free installment options for a wide range of popular products, with a 21% year-on-year increase in the number of products supporting high-installment interest-free options [2] Group 2: Market Engagement and Financial Products - Zhongyuan Consumer Finance combined consumption scenarios with inclusive finance, issuing various themed activities around major holidays, benefiting over 241,000 users and providing over 20.34 million yuan in subsidies in the first half of 2025 [3] - Mengshang Consumer Finance focused on underserved markets, issuing loans totaling 9.587 billion yuan, a 36 million yuan increase from the previous year, and serving 1.48 million customers, a 30% increase [3] Group 3: Strategic Focus on Consumer Needs - Consumer finance companies are deepening their engagement in various consumption scenarios, particularly in response to the aging population, which is driving diverse and quality-driven consumption demands [4] - The People's Bank of China and other departments have emphasized increasing credit support for sectors like retail, hospitality, and elder care, highlighting the growing importance of financial services in these areas [4] - Companies like Hailin Consumer Finance are innovating by offering products that combine elder care financing with health management services, aiming to create a competitive edge in the market [5] Group 4: Future Directions and Innovations - Future strategies for consumer finance companies include enhancing public service integration, optimizing user experience through "group intelligence," and exploring digital integration in consumption ecosystems [5] - Mengshang Consumer Finance plans to focus on underserved low-income groups and expand into emerging areas like green consumption and new citizen services, driving product and scenario innovation [5] - The industry consensus emphasizes the importance of continuous innovation in scenario expansion, advocating for a hybrid online-offline model to enhance user experience and reduce costs [5]