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Summary: The future of automobile finance enterprises in Chi
分类:股票基金

Welcome to the September issue of ABS Spotlight。

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    In this month's issue, we explain the different methods that various ABS asset classes are using to comply with the Dodd-Frank Act'srisk-retention rules. In addition, we summarize our recently published sector overviews on mobile phone financing ABS, equipmentlease and loan ABS and rental fleet ABS. Turning our attention to recent news events, we discuss the credit effects of Hurricane Harveyon auto ABS and utility-recovery charge securitizations with exposure to the affected areas. We also analyze the implications forstructured finance sectors from the array of challenges facing the US retail industry, including the growing prevalence of e-commerceand changing consumer behavior. These and the rest of the articles in this month's issue will keep you informed of key credit issuesaffecting the US and Canadian ABS markets. For summarized articles, click on the article links to read the reports in their entirety.

Compared with other markets, automobile financing in China is developing relatively slowly. Despite this, the country possesses several characteristics that set it apart from the rest of the world. In the following article, translated by Gasgoo.com , Li Jun, a taxation and commercial consultant with PricewaterhouseCoopers China, shared his perspectives on the state of automobile financing in China today.

In 2012, less than 20 percent of vehicle purchases in the country were made using automobile financing. This is partially due to traditional Chinese views regarding debit and credit. As these views begin to change, the demand for automobile financing will continue to grow.

The lack of specialized companies and predominance of banks in the Chinese automobile finance sector

Automobile finance companies are the main outlets that provide financing services overseas. Financing services offered by banks in these markets are generally decreasing.

In China, the development of automobile finance companies has been relatively slow. As such, commercial banks remain the major provider of financing services. Banks possess significant advantages in capital and customer resources. However, banks may still lack a through understanding of the automobile market. Therefore, when conducting risk management, especially when assessing an individual's credit risk, they may have to invest more resources than a company specifically dealing in financing would have to. Furthermore, since banks do not have a clear relationship with automobile manufacturers and are primarily concerned with maintaining a favorable interest margin, they may not act in accordance with market trends. Relatively complex application processes associated with obtaining automobile financing from banks are another issue of concern.

The growth potential of automobile finance companies in China

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