The State Council is promoting the trillion-yuan market pie of consumer finance and cross-border e-commerce to be divided

The State Council executive meeting held on June 10 decided to open up market access and expand the pilot program of consumer finance companies originally carried out in 16 cities to the whole country. The approval authority was delegated to provincial departments, and qualified private capital, domestic and foreign banking institutions and Internet + enterprises were encouraged to initiate the establishment of consumer finance companies. One mature company was approved. Unsecured and unsecured microcredit was provided to consumers, and operations were standardized and risks were prevented, so that consumer finance companies and commercial banks could compete and develop in a complementary manner. The role of consumption in driving economic growth could be better exerted.

Industry insiders said that consumer finance companies have developed rapidly in Europe and the United States and are now very mature, but they have just started in China, so there is huge room for development. The business of consumer finance companies mainly includes personal durable consumer goods loans and general personal consumption loans. From the perspective of operating income and main business, trade retail and home appliance enterprise giants are expected to benefit.

According to the reporter of Securities Daily, in 2009, with the approval of the State Council, the China Banking Regulatory Commission announced the "Management Measures for the Pilot Program of Consumer Finance Companies", and approved the establishment of one consumer finance company in each of Beijing, Tianjin, Shanghai and Chengdu for the first batch of pilot programs. In September 2013, the China Banking Regulatory Commission expanded the scope of pilot cities for consumer finance companies, adding Shenyang, Nanjing and other cities to participate in the pilot program.

It is expected that the scale of consumer credit in China will maintain a compound growth rate of more than 20% from 2014 to 2017, and is expected to exceed 27 trillion yuan in 2017. Boston Consulting Group released a report saying that as of 2014, the balance of personal consumer loans was about 7.7 trillion yuan, and this figure will increase to 17.5 trillion yuan in 2018.

Experts said that the current transformation and new normal of China's economy determine that consumption will be the main driving force for China's economic development in the future. In addition, China has a large population and strong consumption capacity, so there is a lot of room for exploring potential. In addition, encouraging and supporting policies also provide a very good development environment for the development of consumer finance. Consumer finance will be the next blue ocean of Internet finance.

At the same time, the State Council executive meeting held yesterday pointed out that promoting the healthy and rapid development of cross-border e-commerce and using "Internet + foreign trade" to achieve high-quality imports and exports will be conducive to expanding consumption, promoting the development and upgrading of an open economy, and creating new economic growth points.

In this regard, analysts say that the rapid development of cross-border e-commerce in the next few years will bring market development opportunities to companies engaged in platform construction and operation. According to agency forecasts, China's cross-border e-commerce transaction scale will maintain a compound growth rate of 30% in the next 2-3 years, and the cross-border e-commerce transaction volume will account for about 20% of the total import and export trade in 2017. Among them, export e-commerce is still the dominant force, accounting for more than 80%. It is expected that the scale of my country's export e-commerce transactions will continue to grow at a rate of 20%-25% in the next few years, and will reach 6.64 trillion yuan in 2017.

In fact, in order to support the development of cross-border e-commerce, the country has introduced a number of policies since this year. Industry insiders said that in addition to the deployment of the State Council executive meeting to promote the healthy and rapid development of cross-border e-commerce and promote the development and upgrading of an open economy, the recent reduction of import tariffs on some daily consumer goods by the Ministry of Finance is also conducive to the development of cross-border e-commerce.

The State Council executive meeting held yesterday proposed that, first, the customs clearance process should be optimized, the classification of cross-border e-commerce export commodities should be simplified, the registration management of business entities and commodities should be implemented, and convenient measures such as centralized declaration, inspection, release and 24-hour order collection should be adopted for import and export commodities. Second, the tax refund and exemption policy for cross-border e-commerce retail export goods should be implemented. Cross-border electronic payments should be encouraged, cross-border foreign exchange payment pilots should be promoted, and domestic bank card clearing institutions should be supported to expand overseas business. Third, foreign trade comprehensive service enterprises should be encouraged to provide customs clearance, warehousing, financing and other services for cross-border e-commerce. Enterprises should be guided to operate in a standardized manner and crack down on illegal and infringing activities. Fourth, cross-border e-commerce retail export enterprises should be encouraged to expand marketing channels through overseas warehouses and experience stores, cultivate their own brands and build their own platforms. Reasonably increase the import of consumer goods. Promote the acceleration, volume and efficiency of foreign trade.