本报记者

Our reporter

　　侯美丽

Hou beautiful

　　试点两年多的四家消费金融公司已经有三家交出了盈利的成绩单，正在翘首以盼更大的市场，但监管政策却仍然不见丝毫松动的迹象。

Pilot more than two years of four consumer financial company has three surrender earnings report card,Are dearth of larger market,But the supervision policy still see no signs of loosening.

　　在近日于天津召开的消费金融论坛上，银监会副主席蔡锷生坦言，“消费金融还有比较长的路要走”。这段“路”包括可持续发展的业务和盈利模式还需要进一步探索及建立，还包括开发出区别于银行的特色优势产品、提高全面风险管理、提升服务水平和客户认知度、改善外部环境等方面。

Recently held in tianjin consumer finance on BBS,Vice President CaiESheng banking regulatory commission (CBRC) said,"Consumer banking and a long way to go".This period of"road"Including the sustainable development of the business and profit model also need to further explore and establish,Also includes developed from the bank's special advantage products/Improve the comprehensive risk management/Enhance service level and customer awareness/To improve the external environment, etc.

　　试点公司要规模，监管机构看模式。到底谁将决定消费金融公司未来的发展呢？

Pilot company to scale,Regulators see mode.Who will decide consumer financial company? The development of the future?

　　谁是主角

Who is the leading role

　　虽然监管政策未见松动，但消费金融市场却愈发热闹了。众多未获得牌照的机构正在以各种方式曲线进入消费金融领域。譬如日本永旺集团在沈阳设立的小贷公司，虽然打着小贷公司的旗号，但实际上端着的却是消费金融的饭碗。即使正在和消费金融公司紧密合作的苏宁和国美，也均对这一模式跃跃欲试。而目前在北京、上海、成都试点的三家中资消费金融公司都是依托于银行成立的，就连在中国深耕多年的捷信消费金融公司，其母公司PPF集团旗下亦拥有银行、保险等多块金融牌照。

Although the supervision policy loose not seen,But consumer banking market is increasingly populated.Many have not obtained licence institutions are in a variety of ways curve into the consumer finance field.Such as Japan aeon group in shenyang set up little credit company,Although a small loan company's flag,But the actual top is consumer banking job.Even if is and consumer financial company close cooperation in the su ning and gome,Also on this mode is a try.But at present in Beijing/Shanghai/Chengdu pilot three Chinese consumer finance companies are relying on in established bank,Even in China subsoil years of the jie letter consumer financial company,The parent company PPF the group also has the bank/Insurance, many block financial license.

　　未来监管机构会否允许非银行系公司进入消费金融领域呢？银监会非银司副司长张电中在会议间隙接受中国经济时报记者采访时笑言，“如果我说了算，我觉得没有问题”。

The future regulators will not allow non-bank system company to enter the consumer banking field??The CBRC not silver department deputy director general zhang electric in meeting clearance accept China economic times reporter to interview smiled and said,"If I have the final say,I think no problem".

　　“实际上在国外经营消费金融的公司，有持金融牌照的也有不持金融牌照的，另外他们也会有一个演变的过程，开始的时候不监管，后来重新去拿牌照。目前我们还要一步一步来，首先是要有公司向我们提出这种需求，我们再去做研究，至少目前从法规上来说对消费金融公司的股东是没有限制的。消费金融的发展是毫无疑问的，只是我们还是摸索得不够。”张电中说。

"In fact in foreign business consumer financial company,Have the financial license also have not the financial licence,In addition they also will have a evolution process,At the beginning of the no supervision,Then to get licence.At present, we will step by step,The first is to have the company we are presented with this demand,We'll go to do research,At least at present from the laws and regulations on consumption for financial company's shareholders there is no limit.Consumer banking development is no doubt about it,But we still groping enough."Zhang said in electric.

　　而面对诸如小贷公司的抢食，作为“正牌军”的消费金融公司又是什么态度呢？捷信中国CEO迈克·史国奇在接受本报记者采访时表示出了欢迎的态度，“我们并不把来自于小贷公司的竞争当作威胁，因为我们是非常欢迎良性竞争的。随着市场参与者越来越多，整个市场的份额就会越做越大，规模的扩大对消费金融行业是一个好事情。”

And in the face of such as small credit company rob food,as"Original army"Consumer financial company is what attitude?The jie letter China CEO mike ShiGuoJi in accepting our newspaper reporter to interview expressed the attitude of welcome,"We did not take from small credit company's competition as a threat,Because we are very welcome benign competition.Along with the market participants more and more,The whole market share will be bigger and bigger,The expansion of the scale of consumer banking industry is a good thing."

　　量的游戏

Amount of games

　　在所有身处其中或者跃跃欲试的公司看来，消费金融是一场量的游戏。目前全球最赚钱的银行之一——西班牙桑坦德银行，其利润的10%来自于消费金融。该银行北京代表处首席代表周伟在谈到消费金融运作经验的时候，除了强调专业化、产品创新和很强的IT平台支持外，还特别指出“量一定要大”。“消费金融在一个市场里不达到一定的量很难盈利。这是个"好好学习、天天向上"的过程，我们需要积累客户的消费数据，然后才有能力来不断调整自己。谁能够对客户最了解，谁就能站在最先的位置上。”

In all live in or revved up company looks,Consumer banking is a quantity of the game.Currently the world's most profitable Banks, one of the Spanish santander bank,The 10% of the profits from consumer banking.The bank Beijing chief representative ZhouWei talking about consumer banking operation experience,Besides emphasize professional/Product innovation and a strong sense of IT platform outside support,Singled out"Quantity must big"."Consumer banking in a market does not reach a certain quantity is difficult to profit.This is a"Good good study/Day day up"process,We need to accumulate customer consumption data,And then have the ability to constantly adjust yourself.Who can know best to customers,Who can stand in the first position."

　　迈克·史国奇也认为，消费金融的本质决定了高度集中化和批量规模化的经营特点，只有当消费金融公司的覆盖范围能匹配大型零售商的网点，两者的合作才是有意义的，才能真正促进零售商的收入；如果只允许消费金融公司在限定的区域内运营，风险状况会随着时间的推移而恶化，因为潜在客户数量会减少。

Mike ShiGuoJi also think,The essence of consumer finance determines the highly centralized and batch scale business characteristics,Only when the consumer financial company's coverage can match large retailers node,The cooperation is meaningful,Can really promote the retailer's income;If only allow consumer financial company in the limited area operation,Risk condition will be with the passage of time and deterioration,Because the number of potential customers will reduce.

　　银监会数据显示，今年四家消费金融公司的资产规模达到了40.16亿元，同比增加126.82%，贷款余额37.09亿元，同比增加197.98%。不良贷款率为0.56%，服务客户超过19万人。截至目前，三家银行系消费金融公司都已经在今年实现了盈利。而据捷信中国方面透露，捷信消费金融公司最快也将于今年年底实现盈利。

The CBRC data display,This year four consumer financial company assets reached 4.016 billion yuan,Increased by 126.82% year-on-year,Loan balance is 3.709 billion yuan,Increased by 197.98% year-on-year.Bad loans is 0.56%,Serve customers more than 190000 people.So far,Three Banks system consumer financial company have realize the profit this year.And according to the jie letter China revealed,The jie letter consumer financial company will be the fastest in the end of this year to realize profit.

　　虽然规模扩张很快，但绝对量依然不大，不过未来潜力依然可期。据捷信提供的一份资料显示，现在中国大陆消费金融仅占消费贷款市场总额的4%，远低于香港的10%。预计在2010—2015年，消费金融将保持平均45%的年增长率，在所有消费类贷款中增长最快。

Although the scale expansion soon,But absolute quantity still is not big,But the future potential still can period.According to the jie letter provides a data shows,Now China consumer banking accounted for only 4% of the total consumption loan market,Far below 10% of Hong Kong.Is expected in 2010-2015,Consumer banking will keep average annual rate of 45%,In all consumer loans fastest growth.

　　模式为王

Mode to the king

　　虽然四家试点消费金融公司已有三家盈利，但在监管层看来，距离最初的设想仍有一定距离。

Although the four pilot consumer financial company has three profit,But in supervision layer looks,Distance initial idea there is still a certain distance.

　　蔡锷生表示，目前有的消费金融公司还存在着商业银行经营零售业务的思路，片面追求业务规模，还存在如单笔贷款大额化、产品类银行化和欠特色化的问题。功能定位、风险管控与业务发展之间的平衡关系还把握得不够好。

CaiESheng said,At present some consumer financial company there are commercial Banks to deal in the retail business of ideas,The one-sided pursuit of business scale,Still exist such as single loan big change/Product class bank is changed and owe characterization problem.Function orientation/Risk control and the balance between business development relationship is to grasp the are not good enough.

　　银监会数据显示，在37亿的贷款余额中，个人耐用消费品贷款仅为2.28亿元，占比6.15%，一般用途消费贷款34.81亿元，占比达到93.85%。其中，一般用途的消费贷款都是以现金贷款的方式发放。据一位银行系消费金融公司负责人表示，目前银行系消费金融公司的户均贷款额基本都达到了几万元。而他们亦承认自身业务对银行的过分依赖，除了资金来源，客户群方面也可以和银行本身所拥有的资源结合。譬如消费金融公司关于装修的贷款客户，基本来自于银行的房贷客户资源。

The CBRC data display,In 3.7 billion the outstanding balance of the loans,Personal consumer durables loans only for 228 million yuan,Accounted for more than 6.15%,General use consumer loans 3.481 billion yuan,Reached 93.85%.the,General use consumer loans are cash loan way issue.According to a bank system consumer financial company officials said,Currently, the bank system consumer financial company's worth basic loan specified amount reached tens of thousands of yuan.And they also admit their own business to bank depend on,In addition to capital source,Customers also can and Banks themselves have combined resources.Such as consumer financial company about decorating a loan customers,Basic from bank mortgage customer resources.

　　虽然各家消费金融公司都寄望于以规模求发展，但张电中却认为商业模式更重要。“要进一步开放或者是扩大区域，要求有比较成熟的实践经验做参考。消费金融公司如何完成从做大买卖到做小买卖的转变，如何做到成本可算、风险可控、信息尽可能透明，是我们面临比较大的挑战，如何做出有特色的消费金融产品，还需要我们努力去探索。我个人认为扩大区域并不重要，关键是商业模式，商业模式一定要成功，这样才好推广和扩展。”

Although each consumer financial company now depend on to scale for development,But zhang electric but think business model is more important."To further open or expand the area,Require a more mature experience for reference.Consumer financial company how to finish from do big business to children of change,How to do can cost calculate/Risks are controllable/Transparent information as much as possible,Is we are faced with more challenges,How to make distinctive consumer banking products,Need we work hard to explore.I personally think that expand the area is not important,The key is business model,Business model must be successful,It will be great extension and expansion."

　　据本报记者了解，目前四家试点消费金融公司的贷款成本并不低。三家中资银行系消费金融公司的融资方式都是从银行借款，相对成本较高。北银消费金融公司的平均利率在11%、12%左右，中银消费也在10%—14%之间。而捷信则通过与外贸信托、国开行等合作开发消费贷款信托进行融资，资金成本更高，相应其提供的产品的利率也高于中资公司。

According to our newspaper reporter understanding,At present four pilot consumer financial company's loan cost is low.Three Chinese bank system consumer financial company's financing from the bank loan,Relative cost is higher.North silver consumer financial company's average interest rate at 11%/About 12%,Boc consumption also at 10% - 14% between.The letter is through foreign trade and trust/Countries such as operation cooperation development consumer loans trust for financing,Fund cost higher,The corresponding products interest rates also higher than the Chinese company.

　　如何获取更低成本的资金呢？北京银行(601169,股吧)行长、北银消费金融有限公司总经理严晓燕表示，希望消费金融公司能够加入银行间市场，作为一个独立的主体做资金的拆借。

How to get a lower cost of capital?Beijing bank(601169,guba)President/North silver consumer finance co., LTD., general manager YanXiaoYan said,Hope consumer financial company to join interbank market,As an independent subject do money lending.