# Policy and regulatory basis

1. Article 2 of the Measures for the Administration of Pilot Programs of Consumer Finance Companies

The consumer finance company referred to in this scheme means a non-bank financial institution established in the territory of the People's Republic of China that does not receive public deposits and provides loans for consumption purposes to individual residents in China on the principle of small and decentralized amounts.

2. Article 68 of the Measures of the China Banking Regulatory Commission for the Implementation of Administrative Licensing Matters concerning Non-bank Financial Institutions

For the opening of a consumer finance company, the major contributor shall, as the applicant, submit an application to the CBRC Office at the place to be established, and the CBRC Office shall accept, examine and decide. The CBRC Office shall, within 2 months as of the date of acceptance, make a written decision on approval or disapproval, and submit a copy to the CBRC.

Article 69 The applicant shall, after receiving the approval document for business opening and obtaining the financial license, go through the industrial and commercial registration and obtain the business license.

# Examples of Qualifications

The Financial License:

Business license: