Year End Special Paper 4: Guiding the Six New Policies for the Automotive Industry 1

Year-end Special Paper 4: Guiding the Six New Policies for the Automotive Industry Southern Metropolis Daily Looking at the newly introduced policies related to the automotive industry this year, it is not difficult to see that these new regulations increasingly respect the laws of the market and are more human: not just the same as the original. The auto insurance clauses were replaced by personalized clauses, and the rates were more market-oriented; the “Auto Finance Company Management Regulations” were issued, which opened the door for foreign investment in auto finance. Because of the increase in the number of competitors, it means that people’s car loans are more selective. The abundance of flat faceted micro face exiting the market signifies the improvement of our country’s environmental protection and safety requirements; the new road safety law reflects respect for life; in addition, the Ministry of Public Security has also launched 30 items around the examination driving license and annual review. Convenience measures. In the coming year, the seemingly rigid policies all show a strong human touch. Isn't this kind of humanistic management trend the social progress we are pursuing? Convenient Citizen 70-year-olds can still test driver’s license car finance Financial company will be born policy: “auto finance company management measures” Time of launch: October 3 Main content: “Measures” mainly from the auto financing company's market access conditions, business scope Provisions are made in terms of supervision, supervision, and legal responsibilities. There are 42 chapters in five chapters. The core content of the Measures is the establishment of auto financial institutions. The Measures stipulates that the main contributors to auto finance companies must be automobile manufacturing companies and non-bank financial institutions. In the future, in addition to banks, consumers can also choose to go to a number of professional auto finance companies for car loans. The Measures also simplifies the procedures for car loans. Compared with the consultation draft published a year ago, there are three major changes to the “Measures” formally announced: lower entry barriers, narrower business scope, and detailed legal responsibilities. Impact: As far as consumers are concerned, after the auto companies get involved in the auto loan market, they can get more benefits from the purchase of cars to repairs and maintenance services. In particular, some foreign auto finance companies have a history of more than a hundred years. They have more flexibility in terms of lending conditions, interest rates, and repayments, allowing consumers to get more services. For manufacturers, they are powerful automobile companies. Entering the auto credit field has paved the way. The promulgation and implementation of the "Measures" is an important measure for China to fulfill its commitment to join the World Trade Organization and regulate the management of auto consumer credit business. It will have a positive and far-reaching impact on nurturing and promoting the diversification of auto financing business entities and the auto consumption credit market. influences. Background of the "Automobile Finance Management Approach": In recent years, China's personal auto consumption loans have been increasing rapidly. In 2002, it increased 286 times over 1998. However, relative to the speed of development of the automobile consumer market, the scale of existing loans is far from meeting the needs. The sales of cars sold through loans account for less than 20% of the total sales of new cars, which is far from 70% of foreign sales. For many years, the Chinese car loan market has long been dominated by financial institutions such as banks. Auto insurance auto insurance goes to a market-oriented policy: New Motor Vehicle Insurance Clause Launch Date: January 1, 2003 Background: Since last year, China Insurance Regulatory Commission has allowed insurance companies to formulate insurance policies that have the characteristics of the company and meet the laws of the market based on the company’s auto insurance business characteristics. . At the end of last year, the auto insurance market reforms that received much attention finally made substantial progress. The motor vehicle insurance reform plan formulated by the People's Insurance Company of China was first approved by the China Insurance Regulatory Commission and new products were soon to be introduced to the market. Other insurance company’s auto insurance product plans were also introduced before the end of last year. Main content: 11 insurance companies nationwide have introduced new motor vehicle insurance clauses to the society. The new auto insurance clause has a three-month trial period. On April 1st, all domestic insurance companies fully implemented the new motor vehicle insurance clauses and used the 2003 motor vehicle insurance contract that is compatible with the new clauses. At the same time, each The old motor vehicle insurance terms and policies of the insurance company were abolished. The insurance provisions introduced by major domestic insurance companies have several common features: First, new products: more abundant and more personalized. For example, the new auto insurance clause system of the People's Insurance Company of China has 8 main clauses and 11 additional clauses, which comprehensively consider various factors such as the vehicle, person and region. The second is new terms: prices are more flexible. For example, in the aspect of the rate structure, the Pacific Insurance Company's “God Car Insurance” series products have designed more than 50 floating projects such as driving areas, no compensation awards, and one-time payment concessions. The third is the new service: more thoughtful and convenient. For example, the People's Insurance Agency of China promotes accidental vehicle damage control systems throughout the country, and quickly determines damages for mutual-impact claims and services networks for “off-site risks and geographical compensation”. Impact: China's auto insurance begins to enter a new stage of comprehensive marketization. This means that, on the one hand, owners will face diversified auto insurance options; on the other hand, skilled low-risk drivers will stand out from high-risk groups and enjoy premium rates. Policy: Ministry of Public Security's Promotion of Public Benefits Policy: August 7, 2003 Background: The Ministry of Public Security, including traffic management measures, announced a total of 30 measures to facilitate people and the people, from the household registration, transportation, and outreach that are most closely related to the interests of the people. The four aspects of entry and fire management are used to provide more convenient services for the people's production and life. Important content: Taking into account the actual situation and the improvement of people’s living standards, the new measure will relax the current age limit for driving licenses from the current 60 years to 70 years. At the same time, we will increase the quasi-drive type of small automatic transmission passenger vehicles and formally stipulate that people with disabilities in the left lower extremity can apply for small and micro automatic transmission passenger vehicle licenses. Small and micro-non-operating passenger vehicles will be changed from once to one each time. Two-year inspection. Active servicemen and armed police officers can apply for local driving licenses. Exemption of domestic models from the current 492 species to 500, the involved manufacturers from 10 to 29, exempt domestic vehicle production will exceed 1 million, accounting for about one-third of the country's total automobile production. In addition, the newly introduced convenience measures also canceled the driver's license lost registration statement and the rules for replacement after 30 days, stipulating that the new application for replacement should not exceed 48 hours. Imported vehicles are exempted from the inspection line when registering for a new car, and no on-line inspection fees are charged. Select the vehicle number plate number to implement the computer open automatic selection number, and allow the selection of 2 times. The masses can voluntarily choose qualified intermediary agencies to handle all kinds of vehicle licenses, extend vehicle licensing windows to rural and vehicle trading markets, and implement "one-stop" services for vehicle licenses.

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