Standardization period + post-epidemic period (2020 to present) : Consumer finance regulatory policies have been intensively introduced, superimposed on the impact of the epidemic, and entered a period of steady development of compliance

Since 2020, consumer finance industry policies have been intensively introduced. Against the background of increasing economic downward pressure and repeated epidemics, policies have focused on standardization and quality improvement. The approval of consumer finance company licenses has slowed down again after speeding up. Judging from the regulatory situation, the consumer finance market will develop in a more compliant, professional, and strict direction, and the guiding role of the regulatory "baton" will become increasingly obvious.

On July 31, the National Development and Reform Commission issued the "Measures on Restoring and Expanding Consumption" , which pointed out that financial support HE Tuber for the consumption field should be strengthened. Specifically, financial institutions are guided to increase comprehensive financial support for accommodation and catering, cultural tourism, sports and health, elderly care, and housekeeping services in a market-oriented manner. More attention will be paid to strengthening the supervision of the use and flow of consumer credit based on real consumer behavior, and promoting a reasonable increase in consumer credit. On the basis of strengthening the credit reporting system, we will rationally optimize small consumer credit and credit card interest rates, repayment periods, and credit lines.

In summary, the consumer finance industry has now entered a period of regulation. In recent years, the main tone of strong supervision has continued, industry policies have been intensively introduced, and consumer finance companies have experienced both development opportunities and challenges. It will transition from rapid expansion to steady growth with the increasingly improved regulatory framework and state support for the consumer sector.

The China Internet Network Information Center (CNNIC) released the 50th "Statistical Report on the Development of China's Internet" in Beijing on the 31st. The report shows that as of June 2022, the number of Internet users in my country was 1.051 billion, 19.19 million new Internet users compared with December 2021, and the Internet penetration rate reached 74.4%. The average Internet user spends 29.5 hours online per week, and 99.6% use mobile phones to access the Internet.

The main customer group of the loan business is between the ages of 18-50. According to the "Seventh National Census Bulletin [1] (No. 5)", as of November 2020, the total number of people aged 15-59 in China is approximately 890 million.

Faced with such strong national consumption, consumer finance has unique advantages in terms of traffic.