People's Bank of China and China Banking Regulatory Commission, Circular on Revising Relevant Automobile Loan Policies

中国人民银行、中国银行业监督管理委员会关于调整汽车贷款有关政策的通知

January 29, 2018 | BY

Susan Mok

Auto loan ratios have been raised for alternative energy vehicles.

Clp Reference: 3510/17.10.16 Promulgated: 2017-10-16 Effective: 2018-01-01

Issued: October 16 2017

Effective: January 1 2018

Applicability: For the purposes of this Circular, the term “financial institution” means a commercial bank, rural cooperative bank, rural credit cooperative or a non-bank financial institution approved to engage in automobile loan business that is established in the People's Republic of China in accordance with the law and that has been approved to engage in renminbi loan business by the China Banking Regulatory Commission.

Main contents: The maximum ratios for the extension of automobile loans for conventionally powered vehicles for own use, conventionally powered vehicles for commercial use, alternative fuel vehicles for own use, alternative fuel vehicles for commercial use and used vehicles are 80%, 70%, 85%, 75% and 70% (Article 1).

Related legislation: Measures for the Administration of Automobile Loans

clp reference:3510/17.10.16 issued:2017-10-16 effective:2018-01-01

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