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

exceed 70% of the price of the automobile purchased by the borrower. Loans for second-hand automobiles shall not exceed 50% of the price of the automobile purchased by the borrower.

　　For the purposes of the preceding paragraph， “the price of the automobile” shall， in the case of new vehicles， be the actual transaction price （excluding all types of surtaxes， surcharges and insurance premiums， etc.） of the automobile or the price announced by the automobile manufacturer， whichever is lower； in the case of second-hand automobiles， it shall be the actual transaction price （excluding all types of surtaxes， surcharges and insurance premiums， etc.） of the automobile or the price assessed by the lender， whichever is lower.

　　Article 23　Lenders shall establish a credit rating system for borrowers and prudentially determine the credit rating of borrowers. In the case of individual borrowers， the credit rating shall be determined on the basis of factors such as the profession， income， repayment ability and credit record of the borrower. In the case of dealers and Institutional Borrowers， the credit rating shall be determined on the basis of factors such as the status reflected in the credit file of the borrower， the creditworthiness of the senior management personnel， the financial status and the credit record.

　　Article 24　When granting automotive loans， the lender shall require the borrower to provide collateral or other valid guarantees for the automobile purchased.

　　Article 25　Lenders shall accept applications for automotive loans either directly or through the appointment of designated dealers， improve the system of separation of examination and granting of loans， and shall strengthen investigation prior to， and tracking and calling in after， granting a loan.

　　Article 26　Lenders shall set up a database for information of the second-hand automobile market and a system for appraisal of the residual value of second-hand automobiles.

　　Article 27　Lenders shall establish a system for monitoring the classification of automotive loans based on factors such as the amount of loans， the regional distribution of loans granted， the fina

ncial status of borrowers， the brand of the automobiles， and collaterals and guarantees， and shall carry out regular inspection and assessment of risks for different types of automotive loans. It shall adjust the risk rating of various types of automotive loans in a timely manner on the basis of the inspection and assessment results.

　　Article 28　Lenders shall establish an early warning， monitoring and analysis system for automotive loans and formulate early warning standards. If the early warning standards are exceeded， measures such as re-evaluation of the loan examination and approval system shall be adopted.

　　Article 29　Lenders shall establish a system for classification and handling of bad loans and a prudential loan loss provisioning system， and calculate and set the corresponding reserves for risks.

　　Article 30　When granting mortgage loans， the lender shall prudentially assess the value of the collateral， take full account of the risks of reduction in the value of the collateral， and set an upper limit for the mortgage rate.

　　Article 31　The lender shall record in a timely manner information related to automotive loans in the credit registration and enquiry system， and shall establish a system for information exchange with other lenders.

　　PART SIX　SUPPLEMENTARY PROVISIONS

　　Article 32　If， in the course of conducting automotive loan business， a lender commits acts in violation of the provisions hereof， the China Banking Regulatory Commission and its agencies shall have the power to impose penalty on such lender and the related personnel in accordance with the provisions of laws such as the PRC， Banking Regulation Law. The People‘s Bank of China and its branches may propose supervision and inspection by the China Banking Regulatory Commission and its agencies on lenders engaging in automotive loan business that are in violation of provisions.

　　Article 33　Loans granted by lenders to borrowers for the purchase of construction vehicles such as bulldozers， excavators， mixers and pumps shall be handled in accordance with these Procedures.

　　Article 34　The People‘s Bank of China and the China Banking Regulatory Commission shall be jointly responsible for interpreting these Procedures.

　　Article 35　These Procedures shall be effective as of 1 October 2004. The Administration of Automotive Consumer Loans Procedures issued by the People‘s Bank of China in 1998 shall be repealed as of the date of promulgation of these Procedures

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