The Consumer Finance and Non-banking Financial Institutions Working Group is pleased to invite you to its next working group meeting, taking place on Monday 6 May from 09h to 11h, at the European Chamber Beijing Office and in Shanghai Office.
Amid a changing international environment, the opening up of China’s financial sector seems closer and more likely. An increasing number of industries and departments witnessed substantial changes in the regulatory environment. As a result, the focus of international firms is progressively shifting from market access barriers to the overall condition of the market. If, finally, foreign companies are to be granted access to the Chinese market on a more equal footing, what kind of conditions are they going to find?
Among others, the consumer credit industry witnessed major regulatory changes in the past two years, especially for what concerns the cash-loan business that was strictly regulated throughout December 2017. Since then, industry players had to face a wide range of uncertainties, such as how to operate a cross-provincial business, how to get access to funding, and so on.
Against such a backdrop to better understand the state-of-the-art and evolution of the consumer credit industry as well as to explore potential opportunities of cooperation with the China Association of Microfinance, we will have the pleasure of welcoming Ms. Xiaoyi ZHU Senior Project Officer at the China Association of Microfinance to share the key takeaways of China’s microcredit industry.
With this occasion, we will also host this year’s Chair and Vice-Chairs elections. The Chair shall play a key role in driving the development of the Group. With support from the Chamber secretariat, he or she shall promote the Group’s activities and communicate targeted messages on behalf of the industry to policymakers and key stakeholders in China and Europe. The Chair shall also serve as spokesperson to raise the Group’s visibility in the media and at relevant events when appropriate. The Vice Chairs shall play a supporting role to the Chair of the Group. The Vice Chairs assist the Chair when needed in driving the development of the Group and can also represent the Group in communicating messages to policymakers and stakeholders in China and Europe. In the absence of the Chair, the Vice Chairs shall take over the responsibilities of the Chair.
Voting for the elections, one vote per company, must be conducted in person at the working group meeting after each candidate has had the opportunity to give a short speech on why they would like to run for election. The duration of the term for both the Chair and the Vice-Chairs is one year. All elected Chairpersons must sign the attached Code of Conduct.
Tentative Agenda
09:00-09:05 Welcome Remarks
09:05-09:50 Presentation: How the microcredit industry changed after the regulatory developments of 2018 & 2019 by Ms. Xiaoyi ZHU
09:50-10:05 Q&A
10:05-10:15 Chair Elections
10:15-11:00 Discussion on 2019 Working Group Priorities and Position Paper Review