On September 15th, the 2021 China Auto Finance Closed Door Seminar (Shanghai Station) with the theme of "The Break and Stand of Used Car Finance" was held in Shanghai. The seminar was guided by Southern Finance and Economics All Media Group, hosted by 21st Century Business Herald and China Auto Finance, and provided research support by China Auto Finance Laboratory, which attracted many people in the industry to participate. As a third-party auto finance representative, Guo Chun, assistant vice president of Yixin Group, was invited to attend the meeting and delivered a keynote speech.
Guo Chun, Assistant Vice President of Yixin Group, delivered a keynote speech
In April this year, the Ministry of Commerce, the Ministry of Public Security and the State Administration of Taxation jointly issued the Notice on Promoting the Registration of Used Car Transactions Across Provinces to Facilitate The Transaction of Used Cars in Different Places, which focuses on solving the problems of long and inconvenient transaction cycles of used cars in different places from the system. Some experts believe that under the impetus of relevant policies, 2021 will be the first year of the development of China's automobile used car market, and the industry will truly enter a fast track. But at the same time, the used car industry has always existed in the car source, car conditions are complex, valuation is difficult, channel fragmentation and other issues, as well as the second-hand car business entities "scattered, chaotic, small" characteristics, but also let financial institutions to enter the second-hand car market nervous. In this context, the activities of the Shanghai Station of the China Auto Finance Closed Door Seminar mainly conducted in-depth discussions on the current situation and feasibility development of used car finance, in order to help the industry tap market opportunities and explore the entry point of used car finance.
Yixin is one of the few platforms that carried out used car finance business earlier and has formed a certain transaction scale. At the meeting, Guo Chun shared the exploration and innovation of Yixin's used car financial business, from channel development, innovative financial products, to perfect financial risk control, etc., to provide reference for the industry. According to Guo Chun, Yixin began to carry out channel transformation in 2017, taking a two-way parallel approach of direct operation and SP to carry out business; in terms of products, the company continued to sort out and improve its own product system, and launched Kaixinrong products last year to cover the high-end market of second-hand cars; in addition, with a mature and perfect risk control system, Yixin has maintained a good cooperative relationship with many banks to jointly promote business progress.
After the meeting, Guo Chun (6 from the left) took a group photo with the guests attending the meeting
Guo Chun said that compared with new car finance, the space of used car finance has not been fully released, and there are greater market prospects in the future. With the guidance of policies and the improvement of the trading environment, the used car finance industry is expected to usher in greater development.