汽车贷款管理办法 Administration of Automotive Loans Procedures

中国人民银行、中国银行业监督管理委员会令[2004]第2号

（Promulgated by the People‘s Bank of China and the China Banking Regulatory Commission on 16 August 2004 and effective as of 1 October 2004.）

颁布日期：20040816 　实施日期：20041001 　颁布单位：中国人民银行、 中国银行业监督管理委员会

　　PART ONE　GENERAL PROVISIONS

　　Article 1　These Procedures are formulated in accordance with the provisions of laws such as the PRC， People‘s Bank of China Law， the PRC， Commercial Banking Law and the PRC， Banking Regulation Law in order to standardize the administration of the automotive loan business， to safeguard against automotive loan risks and to promote the healthy development of automotive loan business.

　　Article 2　For the purposes of these Procedures， the term “automotive loans” shall refer to loans granted by lenders to borrowers used for the purpose of purchasing automobiles （including second-hand automobiles）， which include individual automotive loans， automotive loans to dealers， and automotive loans to institutions.

　　Article 3　For the purposes of these Procedures， the term “lenders” shall refer to commercial banks， urban and rural credit cooperatives， and non-banking financial institutions approved to engage in automotive loan business， which are established in the People‘s Republic of China according to law and approved by the China Banking Regulatory Commission and its agencies to conduct Renminbi loan business.

　　Article 4　For the purposes of these Procedures， the term “automobiles for self use” shall refer to automobiles purchased by a borrower with an automotive loan and not for profit-making purposes. “Automobiles for commercial use” shall refer to automobiles purchased by a borrower with an automotive loan for profit-making purposes. “Second-hand automobiles” shall refer to automobiles for which change of ownership has been carried out and the procedures for the transfer have been handled according to law within the period between the completion of automobile registration procedures and one year before the automobile is required to be scrapped.

　　Article 5　The interest rate on automotive loans shall be implemented in accordance with the provisions on loan interest rate promulgated by the People‘s Bank of China. The methods for calculation and settlement of interest shall be determined by the borrower and the lender through consultation.

　　Article 6　The term of automotive loans （including extensions） shall not exceed five years. The term of automotive loans for second-hand automobiles （including extensions） shall not exceed three years. The term of automotive loans to dealers shall not exceed one year.

　　Article 7　Both lenders and borrowers shall abide by the principles of equality， voluntariness， honesty and trustworthiness.

　　PART TWO　INDIVIDUAL AUTOMOTIVE LOANS

　　Article 8　For the purposes of these Procedures， the term “individual automotive loans” shall refer to loans granted by lenders to individual borrowers for the purpose of purchasing automobiles.

　　Article 9　When applying for an individual automotive loan， the borrower shall fulfil all the following criteria：

　　1. being a citizen of the People‘s Republic of China， or a Hong Kong， Macao or Taiwan resident or foreigner that has resided in the People’s Republic of China continuously for at least one year （including one year）；

　　2. having a valid proof of identity， a permanent and detailed residential address， and full capacity for civil acts；

　　3. having a stable and legal income or sufficient personal legal assets to repay the principal and interest of the loan；

　　4. having a good personal credit standing；

　　5. being able to pay for the first instalment as stipulated herein； and

　　6. other criteria required by the lender.

　　Article 10　When granting an individual automotive loan， the lender shall take into account the

following criteria comprehensively in determining the amount， term， interest rate， and methods of repayment of principal and payment of interest of the loan：

　　1. the credit rating of the borrower as evaluated by the lender；

　　2. the loan guarantee；

　　3. the performance and purpose of the automobile purchased； and

　　4. the development of the automobile industry and the supply and demand in the automobile market.

　　Article 11　The lender shall establish a file on the borrower‘s credit. Such file shall state clearly the following details：

　　1. the borrower‘s name， residential address， valid proof of identity and valid correspondence methods；

　　2. proof of income and creditworthiness of the borrower；

　　3. the purchase agreement， model， engine number， chassis number， price and purpose of the automobile purchased；

　　4. the amount， term， interest rate and method of repayment of， and guarantee for， the loan；

　　5. record of the calling in of the loan； and

　　6. other information required to safeguard against loan risks.

　　Article 12　Lenders that grant individual loans for automobiles for commercial use shall， in addition to the details stipulated in Article 11 hereof， add information in the borrower‘s credit file such as details of the annual inspection of operation qualifications for automobiles for commercial use， depreciation of automobiles for commercial use， and insurance.

　　PART THREE　AUTOMOTIVE LOANS TO DEALERS

　　Article 13　For the purposes of these Procedures， the term “automotive loans to dealers” shall refer to loans granted by lenders to automobile dealers for the purpose of purchasing vehicles and （or） parts and components.

　　Article 14　A borrower applying for an automotive loan to dealer shall fulfil all the following criteria：

　　1. having an enterprise legal person business licence and annual inspection certificate issued by the department in charge of industry and commerce；

　　2. having an automobile sales agency certificate issued by the automobile manufacturer；

　　3. the asset/liability ratio shall not exceed 80%；

　　4. having a stable and legal income or sufficient legal assets for repayment of the principal and interest of the loan；

　　5. the dealer， the senior management personnel of the dealer and the customers for whom the dealer handles the loan application on their behalf have no major violation of the agreement nor a bad credit record； and

　　6. other criteria as required by the lender.

　　Article 15　The lender shall establish an independent credit file for each dealer， and shall update such file in a timely manner. Such file shall state clearly the following details：

　　1. the name， legal representative and business address of the dealer；

　　2. photocopies of all types of business licences；

　　3. the purchase of insurance， business credit and financial status of the dealer；

　　4. loan card （number） issued by the People‘s Bank of China；

　　5. the models， prices and purposes of the automobiles and the parts and components purchased；

　　6. the loan guarantee； and

　　7. other information required to safeguard against loan risks.

　　Article 16　The amount of the loan granted by the lender for purchase of vehicles and （or） parts and components to a dealer shall be based on the average inventory held over a period by the dealer. The specific period shall be decided on the basis of inventory turnover.

　　Article 17　The lender shall regularly carry out credit examination on the dealer by way of regular taking of the inventory of vehicles and （or） parts and components of the dealer， and analysis of the financial reports of the dealer， and shall adjust the credit rating of the dealer and the frequency of inventory taking on the basis of the results of the examination.

　　PART FOUR　AUTOM

OTIVE LOANS TO INSTITUTIONS

　　Article 18　For the purposes of these Procedures， the term “automotive loans to institutions” shall refer to loans granted by lenders to legal persons and other economic organizations （Institutional Borrowers） other than dealers for purchasing automobiles.

　　Article 19　A borrower applying for an automotive loan to an institution shall fulfil all the following criteria：

　　1. having legal documents such as an enterprise legal person business licence or an institution legal person certificate issued by the enterprises or institution registration and administration authority that prove that the borrower has legal person status；

　　2. having a legal and stable income or sufficient legal assets to repay the principal and interest of the loan；

　　3. being able to pay for the first instalment as stipulated herein；

　　4. have no major violation of the agreement nor a bad credit record； and

　　5. other criteria required by the lender.

　　Article 20　The lender shall， in accordance with Article 15 hereof， establish an independent credit file for each Institutional Borrower， and shall strengthen the tracking and monitoring of credit risks.

　　Article 21　When granting loans for automobiles for commercial use to institutions that engage in automobile leasing business， the lender shall monitor the borrower‘s appraisal method of residual value to safeguard against the risks to the lender arising from overestimation of residual value.

　　PART FIVE　RISK MANAGEMENT

　　Article 22　The amount of loans issued by the lender for automobiles for self use shall not exceed 80% of the price of the automobile purchased by the borrower. Loans for automobiles for commercial use shall not

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