Business scope of domestic financial companies

Domestic financial companies are very different from foreign financial companies. China's financial companies can engage in some or all of the following businesses with the approval of the CBRC:

1: Absorb fixed deposits of member units for more than 3 months;

2: Issue financial corporate bonds;

3: Interbank borrowing;

4: Handling loans and financial leases to member companies;

5: Handle consumer credit, buyer credit and financial leasing of products of member units of the Group;

6: Handle the acceptance and discount of commercial bills of member companies;

7: Handling entrusted loans and entrusted investments of member companies;

8: Securities, equity of financial institutions and equity investment of member companies;

9: Underwriting corporate bonds of member units;

10: To handle financial advisory, credit authentication and other consulting agency services for member units;

11: Provide guarantee to member units;

12: Overseas foreign exchange borrowing;

13: Other businesses approved by the CBRC;

14: In terms of service objects, since Chinese finance companies are subsidiaries of enterprises, Chinese finance companies generally focus on their parent companies and shareholders.

Reference to business scope of finance company

Take CCCC Finance Co., Ltd. as an example:

Business scope: The Company is approved to operate the following domestic and foreign currency businesses:

1: To handle financial and financing consulting, credit authentication and related consulting and agency business for member units;

2: Assist member companies to realize the collection and payment of transaction funds;

3: Approved insurance agency business;

4: Provide guarantee to member units;

5: Handling entrusted loans between member companies;

6: Handle bill acceptance and discount for member companies;

7: Handle internal transfer settlement between member companies and design corresponding settlement and clearing schemes;

8: Absorb deposits from member companies;

9: Handling loans and financial leases to member companies;

10: Interbank lending;

11: Underwriting corporate bonds of member units;

12: Equity investment in financial institutions;

13: Securities investment (excluding stock investment);

14: Consumer credit, buyer credit and financial leasing of member units' products; Concurrent insurance agency (the insurance concurrent agency business license is valid until November 25, 2019);

15: The enterprise independently selects business projects and conducts business activities according to law; For projects that need to be approved according to law, business activities shall be carried out according to the approved contents after being approved by relevant departments; They shall not engage in the business activities of the projects prohibited or restricted by the industrial policies of this Municipality.

Take CITIC Finance Co., Ltd. as an example:

Operating the following domestic and foreign currency businesses:

1: To handle financial and financing consulting, credit authentication and related consulting and agency business for member units;

2: Assist member companies to realize the collection and payment of transaction funds;

3: Provide guarantee to member units; Handling entrusted loans and entrusted investments between member companies;

4: Handle bill acceptance and discount for member companies;

5: Handle internal transfer settlement between member companies and design corresponding settlement and clearing schemes;

6: Absorb deposits from member companies;

7: Handling loans and financial leases to member companies; Entrusted investment;

8: Underwriting corporate bonds of member units; Investment in securities (excluding investment in the secondary stock market);

9: Buyer credit and financial leasing of member units' products;

10: Interbank lending; Concurrent insurance agency business.

11: The enterprise independently selects business projects and conducts business activities according to law; For projects that need to be approved according to law, business activities shall be carried out according to the approved contents after being approved by relevant departments; They shall not engage in the business activities of the projects prohibited or restricted by the industrial policies of this Municipality.

There is a big difference between domestic financial companies and foreign financial companies. China's financial companies can engage in some or all of the above businesses with the approval of the CBRC.

For more information about the company's business scope, please pay attention to the second brother