汽车贷款管理办法 Administration of Automotive Loans Procedures
（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 AUTOMOTIVE 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 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 financial 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.