This paper/Chen Li / by "financial", Chinese boulder Research Institute of finance, Treasury finance research feeds

Introduction.With the development of financial leasing market,China lease financing market be just unfolding, huge potential. As SAIC's professional Finance Leasing Company, Anji rental to provide services, business innovation, another unique mode of financing lease a car?

Anji rental: the new -- Interview Anji leasing company mode auto financing lease vehicle finance department director Wei Qiang

 

1980Years, Chinese aviation transnational lease the first Boeing747Aircraft, financing lease began to enter the people's vision. After30Years of practice, the leasing market development, opening a new field of social investment, enhance the competitiveness of enterprises, to provide effective financing channels for enterprises have played a certain positive role.According to "2013The report "in the first quarter financial leasing industry development display, as of3At the end of the month, the total number of various types of financing lease enterprise of national registered operation is about628A financial leasing contract; the balance of about16500Billion yuan, than2012At the beginning of the year9300Billion increase of about77.42%.

 

With the development of financial leasing market,China lease financing market be just unfolding, huge potential. The global annual auto sales, the financing way, namely the loan financing leasing and sale of cars, the total sales of70%. But in the China, the number is less than 2/1000, the market development space is very great.

 

At present, domestic auto financing lease business organizations, to have a car dominated, with banking background, professional Finance Leasing Company and leasing background. How to occupy this piece of blue ocean?2006Years4Month won the national Ministry of Commerce approved the "lease" intelligence Anji leasing company ready. This print interviewed Vehicle Finance Department of Anji leasing company director Mr. Wei Qiang, tells the story of a well-known domestic automobile group under the professional Finance Leasing Company, how to provide the characteristic service, innovative financing lease, a unique "Anji model".

 

Melting property Yung Chi -- Anji development imprinting

 

Anji rental belonging to the world five hundred strong enterprises in Shanghai automobile group, Limited by Share Ltd, the group's Shanghai Automotive Industry Sales Co., a wholly-owned holding. As the full range of automobile sales and service suppliers, SAIC sales ranked "top 100 Chinese auto dealer group". Compared with the general automobile dealer, SAIC sales in addition to the Shanghai automobile group Limited by Share Ltd strength as the background, also persist in the automobile finance service, car rental service, the driver service, vehicle information service, car culture service and value-added areas continue to create "the unique ability of Anji" brand, and through the construction of "Anji automobile life square" the one and only way to create the domestic cityCBDThe development of a new model car sales services, to provide consumers with more rich, perfect car service.

 

Since the1993Since its establishment, across the2006Years,2009Years,2011At the end of the year to2012The beginning of this three development key point, Anji rental completed the transition from operating lease to lease financing, but also to determine the auto financing lease as the core business, the development strategy of mechanical equipment, shipping, energy saving and environmental protection business supplement. Wei Qiang said, this strategic adjustment is in line with the group for the backbone for unified strategic business oriented, also in line with the interests of shareholders oriented. At the same time in risk management, compared to ship large equipment leasing, auto financing lease single volume small, small amount, can disperse risks.

 

Auto financing lease refers to the lessee vehicle requirements specific to the financing lease the lessor has the qualification by the lessor, lessee purchase designated vehicle, and the vehicle leased to the lessee, the lessee in the lease period, the use of possession and pay rent to the lessor, the expiration of the term of lease, the rent paid, people can get the vehicle property transactions. Commonly known as "rent to buy" or "rent to the property".  

 

1993Years, Shanghai Anji car rental company, Anji Rental Company Limited's predecessor, operating leasing business.

 

2006Years, won the national Ministry of Commerce, the tax bureau group of financing lease qualifications, the transition of Anji leasing company to complete operating lease financing lease.

 

2009Years, Anji rental determine the vehicle leasing, ship, automobile manufacturing machinery and equipment, energy saving and environmental protection of four major business segments, become the car leasing the first "eat crab" enterprises.

 

2011Years10Month28Day, Anji Leasing Co., auto financing Shanghai shop in Hongqiao Road550On the grand opening, to practice the "entity" store carry out "the new concept of financing lease business virtual".

 

2011At the end of the year to2012At the beginning of the year, the auto financing lease, the development strategy of mechanical equipment, shipping, energy saving and environmental protection business supplement.

Leasing development policy difficulties

 

Automobile leasing industry, once the industry as can pull the car sales, weapon and can solve the problem of funds of the consumer. According to the experience of mature auto market, financing lease should be and auto finance companies, commercial banks three car carriage state financial. At present our country automobile leasing accounts for the proportion to purchase a car3%No, the next huge market space is beyond doubt.

 

Xinhua letter data display, global automotive financial way to purchase a car, the proportion of70%Financing lease, which accounted for the overall ratio15%In North America; for example, purchase a car auto finance mode ratio80%Financing lease, which accounted for more than more46%, far more than the global average. In USA market,30%New car sales volume for the auto Finance Leasing Company. To Ford as an example, the total sales25%The sales volume,50%Sold to the Finance Leasing Company. According to another in the world40Mercedes Benz financial statistics in many countries the provision of financial services, each3A Mercedes car1Car sales by way of leasing.

 

Then, auto financing lease this It is quite common for in North America, Europe and other auto developed countries auto sales model whether in the domestic popularity?

 

Financing lease Chinese automobile to the sustained and healthy development, cannot do without improving the relevant laws and regulations system, cannot do without credit system.

 

In response, Wei Qiang said: "no matter is the financing lease or an operating lease, in foreign countries are the same concept. In China, finance lease is a financial business, belonging to the China Banking Regulatory Commission jurisdiction, operating leases is belong to the Ministry of Commerce jurisdiction, both independent of each other. This is a financing lease to the rapid development of the policy and regulatory barriers." At the same time, the relevant legal system is not perfect, especially the credit system is not perfect, once a dispute with the customer, the lack of strong legal basis to support the Finance Leasing Company.

 

"In addition, bottleneck of domestic vehicle localization management is carried out in the country when the financing lease business. Financing lease belongs to the class of financial business, it has no geographical restrictions, and the vehicle management localization is the operating lease business by the administration is divided into several small pieces. Therefore, we in the development of financing lease business to the organic integration of the two."

 

Financing leaseOrBank loans

 

China consumers to financing to buy a car, can cover the demand way and many, such as the bank's auto consumer loans, auto finance company loan, bank credit card payment, financing lease and even some hock.

 

Wei Qiang said, now the auto market is "the three world". One of the most excellent20%Customers are mainly high quality enterprise, through financing or bank equity loans, because the cost is the lowest, and the qualification of the worst20%Customers, mostly can only achieve financing through borrowing, small loan companies, pawn. An auto financing company, the Finance Leasing Company is located in the middle of the target60%Customer.

 

The first choice, bank lending is still the consumer automobile financial plan but, financial leasing has its own characteristics and advantages in financing mode, sales model and capital allocation. Financing lease is in financial form can achieve the purpose of financing, with high flexibility, can maximize saving money and time costs. In the sales model, Finance Leasing Company and customers, suppliers are "triangle", as a link between customers and suppliers that Finance Leasing Company, Finance Leasing Company funds transferred to the supplier, the supplier will object to the customer, customer use and pay rent. The most important, to enterprise customers, financing lease as a kind of special financing tool, has the inherent advantage in many aspects to expand the financing channels, optimize the cash flow, reasonable adjustment of tax, improve the financial performance of the. Wei Qiang said, "lease financing for customers to win more cash flow. For enterprise customers, it does not take the credit line, so that enterprises in the maintain a good credit rating at the same time, not to delay the production and consumption. This is for the enterprise added a financing way."

 

The small enterprises still will be equipped with official car demand, in the name of the enterprise is very difficult to obtain loans from banks, "banks and auto finance companies will not provide loan services for enterprise legal person, the lease financing can solve this problem, the optimization of the company's cash flow, so that enterprises can be its own funds more effectively for the management and development of the enterprise." Wei Qiang mentioned.

 

Financial management, risk control March

 

Financing lease service model innovation, service function is gradually extended. Anji leasing customer service in the implementation of the "two steps" strategy. The demand for the objective existence of the enterprise, and enterprise in the communication and cooperation, the first is to ensure that the quality of service. For target customers, they are more sensitive to the business plan, and not sensitive to the price. Wei Qiang said, "for those with stable loan demand of customers, we will maintain long-term business association and provide the corresponding value-added services. Our client manager mainly come from banks, automobile financial company, the big four accounting firms, are good at providing financial value-added services, such as consulting services, the customer service process, can help the enterprise cash flow control, rational use of liquidity to create extra profit,Is be of great advantage to optimize the asset structure."

 

Financing lease has financial attributes, financial risk throughout the business activities. For example, the biggest risk is the lessee lessor also rent, which directly affect the rental company business and living. "The financial leasing industry is emphasized by enterprises operating conditions, namely business stability, such as cash flow, profit ability, rather than the bank value assets." Wei Qiang said, "in the process of risk management, Anji rental from two indexes to evaluate the enterprise customer business income, it is a Book of water enough to pay rent each each, one is its net profit to cover the financing interest."

 

The camp to increase, the increase or decrease?

 

The financial leasing industry, once thought into VAT; in, he wants to return to the business tax mode -- with the financial leasing industry on the "melting", "financing" two ships.

 

Since the "camp to add" pilot since, financial leasing industry has been exploring how to adapt. With last year8Month1Date of "camp to add" pilot to expand the scope of8Provinces (municipalities), financial leasing industry encountered in "camp to add" of concern. Wei Qiang said, "camp to add" policy to Anji lease, and even bring profound influence financial leasing industry. He affirms the function of this policy. "Pilot within the scope of the enterprise credit through the issuance of VAT invoice, reduce some taxes, is disguised to reduce my price, enhance the financing lease of attraction, which for us to get more customers and future development planning is also very beneficial."

 

However, the implementation of the new policy also allow enterprises to have "be all at sea feel at a loss". For this, Wei Qiang analysis from two aspects. On the one hand, "camp to add" pilot policy has not yet in full swing, and facing the pilot plan unified, the local tax authority policy caliber is not consistent, it will effect the development of cross regional business of Finance Leasing Company. At the same time, because there is no formal notice, the local regulatory authorities to "camp to add" pilot implementation of this policy throughout the country cannot give a definite answer, enterprises can not grasp the policy direction. Said here, Wei Qiang made the Xi'an customers for example, "the enterprise6000Million financing needs, to the local tax administration to understand the policy, but also can not be sure to reply, can enjoy the dividend policy, had to be incorporated in Shanghai branch." On the other hand, the policy and supporting the implementation of rules are not synchronized, so Finance Leasing Company in the formulation of the product price is relatively passive.

 

In the automobile market growth to return to normal, the new car sales profit decline, auto financing lease can reduce the consumer's purchase a car threshold, so as to promote the sales of new cars and subsequent follow-up after market service, and become the new profit growth point. The car industry calls for a sharp, innovation, and efficient financial services, promote the automotive industry into the intensive and meticulous farming, steady growth of new development period. Although the rental market of domestic automobile finance degree is low, the internal and external system is not mature, but in3%Share of the market, the future is bound to usher in a new era in it.