Non-banking Financial Institutions Working Group Annual Report 2023

Non-banking Financial Institutions Working Group Annual Report 2023 Go back »

Published on:

2024-05-30
Category:

Other
by:

Non-banking Financial Institutions (Sub-working Group) Working Group / Forum
Keywords:

non-banking, financial institution, consumer finance, auto finance, small loans, economy, finance, leasing companies, financial services, international trade, cross-border data

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The Non-banking Financial Institutions (NBFI) Working Group was established in 2008. It includes leading European consumer finance specialists who operate companies engaged in consumer finance, auto finance and small loans, in addition to entities engaged in consumer finance services in cooperation with third parties (e.g., guarantee companies) in China. As of 2020, the working group also includes equipment leasing companies (ELCs). This working group reflects the importance attached to the emerging non-banking financing sector in China, its relevance to the State Council’s major policy objectives and the attention European players pay to this agenda. In 2021, the name of the working group was changed from the Consumer Finance and Non-Banking Financial Institutions Working Group to the Non-Banking Financial Institutions Working Group to better encompass the many distinct players within the nonbanking segment of the economy.

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