Ye Tan: Encouraging Consumer Credit Is A Hot Topic In The Near Future.

Now that the debt ratio of local governments has been rising continuously, it has reached the point of debt replacement, and the level of corporate debt is also in the forefront of the world. Only residents have low liabilities and high deposits and low leverage.

According to Guotai Junan's report, as of the end of 2015, China's current consumer credit scale is less than 20 trillion yuan (excluding mortgage loans), while the level of household leverage is less than 40% (the average Anglo American and Korean average is about 70%).

There is a lot of money left in the society, and there is a solution to the old shortage of consumption.

In March, the central bank and the CBRC jointly issued the "increase of the right".

The guiding opinions on financial support in the field put forward a feasible mode to explore the land use rights, real estate and charging rights of old-age service institutions.

Before the rural financial reform, the "two rights" in rural areas could be pledged and assets could be put into cash. Real estate has long been a large collateral, and consumer credit has new collateral.

For example, patents can be pledged and financing, especially for wearable devices and smart home.

The right of operation and ticket revenue can also be pledged.

The pledge loan mode of copyright, trademark and income rights of cultural and creative companies is under consideration.

Banks do not always give loans to traditional enterprises. They can see that patents and copyrights are new things.

Lowering the down payment ratio is not a big innovation.

In order to promote car consumption, just like pulling real estate, the common method is the down payment ratio of automobiles.

The paper points out that the financial institutions authorized by the China Banking Regulatory Commission to handle loans for new energy vehicles and used cars can, on the basis of the minimum requirements of 15% and 30%, independently decide the proportion of the first payment on the basis of prudent and risk controllable principles.

Allowing auto financing companies to provide car loans (or financial leasing) to consumers, and to provide additional product financing attached to the purchased vehicles according to consumers' wishes.

Secondhand cars and new energy vehicles are so important that they are estimated to be the process of upgrading automobile consumption.

Real estate down the first line of the city is crazy, deviated from the whole, especially the three or four line cities to the original intention, some first line cities and the second line of the core city policy began to tighten.

And the auto industry should be upgraded as a whole, and the down payment and loan increase of second-hand cars and new energy vehicles is to speed up the second-hand car paction, so that the car free families will have a car quickly, and the family with a car can consider responding to the government's call for a new energy vehicle.

According to the "13th Five-Year plan", the annual output and sales of new energy vehicles in China will reach 5 million by 2020.

Compared with the annual sales of 330 thousand new energy vehicles in China in 2015, the target of 5 million vehicles means that in the next 5 years, the average annual sales volume of 930 thousand new energy vehicles in China will be increased.

Hou Yankun, research director of the Asian automotive industry in UBS, said that China expects to sell 1 million 100 thousand new energy vehicles in 2020.

Since the 90s of last century, real estate and automobiles are the most important consumption of Chinese families, so the focus of the policy is to turn real estate and automobiles in turn.

With the concept of consumer finance, a new wave of financial fever will emerge from commercial banks to P2P.

In the report, the central bank's financial times pointed out that some market participants expect that the scale of consumer credit in China will exceed 37 trillion yuan in 2019.

In fact, the scope is far more than this, Jingdong white stripes and flowers chant.

Last year, "double 11" on the same day, Jingdong white goods users grew by 800%, accounting for the proportion of mall pactions increased by 500% over the same period.

Among them, the price of the white guest is 800 yuan, and the price of the white stripes is 1500 yuan.

For the first time in the "double 11" ant flower, the paction volume reached 4 billion 500 million in the first half hour, and the total number of pactions in the whole day was 60 million 480 thousand, accounting for 8.5% of the total paction of Alipay.

The next step is P2P, which has launched the online shopping mark in March 2013. The micro credit product of everyone loan is "wage loan". It mainly focuses on employees aged 22~55 or above whose monthly income is more than 2000. Their loan uses are mostly decoration, marriage, housing, car buying, education (Study abroad, study abroad), and other consumption.

After trying to expand financing and support traditional industries, the current policy orientation has shown some support for borrowing money and consumption.

Some friends say that before buying a house is patriotic, buying shares is patriotic, and now consumption is patriotic.

Stimulating consumption is a matter of course, but we must not override the banner of financial innovation and Inclusive Finance. In particular, in the future, if there is a mortgage involving trademarks, copyright and so on, under the background of the current credit environment is not clear, how to evaluate these mortgages, how to deal with bad debt accounts and how to make standard investment products, we must prepare for the rainy day.