Residents of Beijing-Shanghai Rong can borrow money without mortgage guarantee

BEIJING, January 7 (Xinhua) Today, the CBRC has officially approved the Beijing Bank (in Beijing), the Bank of China (in Shanghai), the Bank of Chengdu (in Chengdu) as the main contributor to the establishment of consumer finance companies.　　The move is seen as an important step in boosting domestic demand and boosting consumption. A consumer finance company is a Non-bank financial institution that does not absorb public deposits and, in the principle of small and dispersed, provides loans to individuals in China for consumption purposes. Consumer financial services in the mature market and emerging markets have been widely used, are welcomed by different consumer groups, with a single credit line small, quick approval, no collateral security, flexible service mode, short loan cycle and other unique advantages.　　July 2009, with the approval of the State Council, the CBRC issued the "Consumer finance company pilot management measures", and launched the Beijing, Tianjin, Shanghai, Chengdu, four consumer finance company pilot examination and approval work. According to the relevant personnel of the CBRC, according to the above-mentioned three commercial banks submitted to prepare for the application, Beijing bank in Beijing to set up a wholly-owned north bank Consumer Finance Co., Ltd., the Bank of China proposed United Hundred Group Co., Ltd. and Shanghai Lujiazui Financial Development Co., Ltd. in Shanghai to establish BOC Consumer Finance Co. Chengdu Bank intends to unite Malaysia Hong Leong Bank in Chengdu, Sichuan Kam-Cheng Consumer Finance Co., Ltd. established.　　In addition, the Tianjin city to set up a consumer finance company's application is also accepted for approval. The market is bullish on the move. Franklin Investment director Zhang Yiming told reporters that for a long time, China's economic growth has been too dependent on investment and exports, while domestic consumption has not been able to start.　　This has caused the imbalance of the macroeconomic structure to a certain extent, which is a hidden danger for China's sustainable development. "The significance of consumption to the economy is that investment and exports cannot be replaced." Its role in smoothing economic fluctuations is especially important in the present. Stimulate consumption, financial innovation can not be missed. China's recent decade of real estate boom, although with a number of factors, but there is no doubt that the mortgage is the role of the floodgates. Consumer finance companies are clearly good news for stimulating people's consumption.　　"Zhang Yiming said. It is reported that the above three commercial banks should be completed within 6 months of preparation work. During the preparation period, the capital, personnel and business premises of the proposed consumer finance company shall be implemented, and the rules and regulations of the company's Articles of association and Action and the internal risk control system should be completed. After the completion of the preparation work, in accordance with the relevant provisions to the CBRC to submit the opening application materials.