China's Ten Most Valuable Super 'Financial Licenses'

The ten most valuable super 'financial licenses' in China (a billionaire's game) all along, The number of financial licenses held by a company has already been equated with its strength.. With the development of internet finance in recent years, A number of strong companies have also emerged within the industry., In the face of the trend of mixed operations, Their "ambition" for financial licenses has also become increasingly intense as their strength grows..

from another aspect, As regulations become more stringent, These companies that rely on the Internet to carry out financial services are facing increasingly high costs for violations., This also makes companies have a stronger desire to operate under licenses and in compliance with regulations.. The financial licenses that require approval in our country mainly include banks, Insurance, trust, Brokerage firm, financial leasing, futures, fund, Fund subsidiaries, Fund sales, Third-party payment license, small loan, 12 types of pawns.

Among them, which kind of license do Internet financial companies have the most urgent need? Which license plate is the most valuable?, The highest price? Among the many financial licenses, What are the general financial licenses that may be involved in conducting Internet financial business? What kind of

Application conditions

? Let’s sort it out for you one by one..

▌License 1Private Bank License Approval Authority: China Banking Regulatory Commission

Application conditions

: 1, capital standards, Clearly owned private funds 2, It is a shareholder standard, Make it clear that capital owners should have good personal reputation; No organizational structure and bad records of related party transactions3, bank standards, Have a well-designed equity structure and corporate governance structure, Risk control system, Information technology architecture, etc.; 4, Mechanism Standard, It is clear that there are five, Including institutional arrangements for bearing residual risks, Have good bank qualifications and risk resistance capabilities, Differentiated market positioning and specific strategies, etc..

The "Guiding Opinions on Promoting the Development of Private Banks" also makes specific provisions for private enterprises that invest in banking financial institutions.

Require

. like, Profitable continuously for the past 3 fiscal years, After year-end distribution, net assets reach more than 30% of total assets, The balance of equity investment does not exceed 50% of net assets, etc.. There are 5 private banks in the first batch, Zhejiang MYBank, Shenzhen Qianhai WeBank, Shenzhen Huarui Bank, Wenzhou Commercial Bank, Tianjin Jincheng Bank.

Cao Yu said, There is currently no limit on the number, Will be approved by each company in accordance with national policies., A new batch of private banks will soon enter the approval stage. Chongqing Fumin Bank later became the sixth institution to obtain a private bank license..

▌License 2 Third-party payment license approval authority: People's Bank of China

Application conditions

: 1, The applicant intends to engage in payment business nationwide, Its minimum registered capital is RMB 100 million;Planned to be in the province(**, municipality)Those engaged in payment business within the scope of, Its minimum registered capital is RMB 30 million.

2, A limited liability company or a joint-stock company legally established within the territory of the People's Republic of China, And it is a non-financial institution legal person; 3, There are investors who meet the requirements of these Measures; 4, Have more than 5 senior managers who are familiar with payment business;5, There is conformity

Require

anti-money laundering measures;6, There is conformity

Require

payment business facilities;7, Have a sound organizational structure, Internal control system and risk management measures;8, There is conformity

Require

business premises and safety measures;9, The applicant and its senior managers have not been punished in the past three years for using the payment business to commit illegal and criminal activities or handling payment business for illegal and criminal activities..

In the "Implementation Plan for Special Rectification of Risks of Non-bank Payment Institutions" issued by the central bank, it was clearly stated, Applications for the establishment of new institutions will generally no longer be accepted, For licensed institutions with greater hidden risks, Not renewed. From 2011 to present, The central bank issued a total of more than 270 payment licenses in 8 batches, Currently, many licenses have been canceled by regulatory agencies, And the merger of multiple payment companies, There are currently only 255 copies left, The renewal of the fourth batch of payment licenses is currently underway.

▌License 3 Consumer Finance License Approval Authority: Banking Regulatory Commission

Application conditions

: Non-financial companies serve as major investors in consumer finance companies, The following conditions should be met: 1, Operating income in the most recent year shall not be less than RMB 30 billion or its equivalent in freely convertible currency (consolidated accounting statement standards); 2, The net assets at the end of the most recent year shall not be less than 30% of the total assets (consolidated accounting statement standards); 3, Financial condition is good, Continuous profits in the last 2 fiscal years (consolidated accounting statements); 4, Good reputation, No major illegal or illegal business records in the past 2 years; 5, The source of investment funds is true and legal, No borrowing funds may be used to invest in shares, It is not allowed to invest in shares with funds entrusted by others; 6, Commitment not to transfer the equity held by the consumer finance company within 5 years (except when the banking regulatory authority orders the transfer in accordance with the law), and state it in the articles of association of the proposed company; 7, Other prudential conditions specified.

▌License 4 Internet insurance license approval authority: China Insurance Regulatory Commission

Application conditions

: 1, Have an information management system that supports Internet insurance business operations, Achieve seamless real-time connection with the core business systems of insurance institutions, And ensure effective isolation from other application systems within the insurance institution, Avoid the transmission and spread of information security risks within and outside insurance institutions.

2, Has a complete firewall, Intrusion detection, Internet information security management systems such as data encryption and disaster recovery; 3, Have a license issued by the Internet industry authority or complete website registration with the Internet industry authority, And the website access place is within the territory of the People's Republic of China; 4, Has a dedicated Internet insurance business management department, And equipped with corresponding professionals; 5, Have a sound Internet insurance business management system and operating procedures; 6, Internet insurance business sales personnel should comply with relevant regulations of the China Insurance Regulatory Commission; 7, Other conditions specified by the China Insurance Regulatory Commission.

at present, A total of 4 companies have obtained Internet insurance licenses, They are Zhongan Online Property Insurance Co., Ltd., Taikang Online Property Insurance Co., Ltd., Anxin Property Insurance Co., Ltd., Yi'an Property Insurance Co., Ltd.. The business scope mainly includes cargo insurance, credit guarantee insurance, Accident insurance, health insurance, Home insurance, Corporate property insurance, etc..

▌License 5 Internet Fund and Sales License Approval Agency: Securities Regulatory Commission

Application conditions

: Commercial banks conduct Internet fund sales through self-operated platforms of fund sales institutions, Securities company, Futures Company, insurance agency, Securities investment consulting agency, Independent fund sales agencies and other institutions recognized by the China Securities Regulatory Commission as having the qualifications to register fund sales business, And also have the website license (or filing procedures) from the telecommunications authority, Those who comply with regulatory requirements can engage in Internet fund sales.

Sold by fund sales agencies through third-party e-commerce platforms1, Fund sales business license of fund sales agency; 2, Registration of third-party e-commerce platforms and fund sales agencies with the China Securities Regulatory Commission. Self-sold funds by third-party e-commerce platforms 1, Telecommunications authority website license (or filing procedures) for third-party e-commerce platforms; 2, Third-party e-commerce platform’s own fund sales business license.

▌License 6 Internet Trust License Approval Agency: Banking Regulatory Commission

Application conditions

: In accordance with the relevant provisions of the "Mutual Finance Opinions" and **, Internet trust can only be carried out by trust companies.

The opinion pointed out that trust companies conducting business through the Internet, Regulatory regulations must be strictly followed, Strengthen risk management, Ensure transactions are legal and compliant, Keep customer information confidential, Comply with qualified investor regulations, Carefully identify customers and assess their risk tolerance, Products cannot be sold to customers whose risk tolerance does not match. at present, **Detailed regulatory rules for Internet trust business have not yet been released. There are currently 68 trust companies issued licenses in my country..

▌License 7 Internet small loan license approval authority: Provincial government departments (financial offices or related agencies)

Application conditions

: Combining small loans with the Internet, Reflected in whether it can break through "territorial management", Achieve cross-regional operations, Given that the current small loan company licenses are still issued by the financial offices of each provincial government. 1, Internet companies apply for small loan licenses on their own.

Large Internet companies such as Alibaba, Jingdong, Vipshop, Baidu and others have obtained small loan licenses for nationwide operations. But currently only Guangdong, Shenzhen, Financial offices in Beijing and other places can handle this, The application conditions are higher, The cost is larger. 2, Internet companies cooperate with companies that have obtained small loan licenses, Or adopt the form of supervision by filing with ** (or provincial financial office).

3, A company-operated online platform that has obtained a small loan license and meets relevant regulatory conditions, and obtain permission or filing from regulatory authorities. What conditions should Internet companies and small loan companies meet under the latter two methods?, What model is used to achieve the "control" of the former over the latter in the "Mutual Financial Opinions", Relevant details are yet to be issued by the regulatory authorities.

▌License 8 Equity Crowdfunding License Approval Authority: Securities Regulatory Commission

Application conditions

: At present, equity crowdfunding licenses are obtained through a "pilot" approach. Platforms that already have pilot qualifications for public equity crowdfunding have: The "owner" of JD Finance, Shenzhen Qianhai Puhui Crowdfunding Trading Co., Ltd., a subsidiary of Ping An Group, and Ant Financial’s Ant Dake (Shenzhen) Equity Crowdfunding Service Co., Ltd..

▌License 9Internet Securities License Approval Authority: Securities Regulatory Commission

Application conditions

: 1, Brokerages and Internet companies join forces, Realize user diversion, Facilitate the development of online brokerage business. This includes China International Finance Securities, which was the first to join hands with Tencent for online account opening., Huatai Securities, which joins hands with NetEase, etc.. 2, Independent research and development online platform, This method is mostly dominated by large state-owned securities firms..

Large securities firms pay more attention to the right to speak on brand image, Therefore, compared with holding hands with Internet companies,, They are more willing to launch their own Internet business brands and e-malls, Such as CICC’s “CICC Financial Network”, etc.. 3, There is another, That is, securities firms are brought under the control of Internet companies., Become the financial vanguard of Internet companies. This model is the most representative, It’s the acquisition of Xiangcai Securities by Great Wisdom, Successful industry transformation.

Since April last year, 55 securities firms have obtained Internet securities business qualifications, Approximately half of the total number of securities firms; Listed securities firms, Except Everbright Securities, Other than Tohoku Securities, All have obtained Internet business qualifications (Tang Yu Enterprise Management-Long Xi).

▌License 10 Personal Credit Report License Approval Authority: People's Bank of China

Application conditions

: 1, Major shareholders have good reputation, No record of major violations of laws and regulations in the past 3 years 2, Registered capital is no less than RMB 50 million3, Have facilities to ensure information security that comply with the provisions of the State Council’s credit industry supervision and management department, equipment and systems, Measure 4, Proposed Director, Supervisors and senior managers meet the qualifications for office stipulated in Article 8 of these Regulations5, Other prudential conditions stipulated by the credit reporting industry supervision and administration department of the State Council. The People's Bank of China in the "Notice on Preparing for Personal Credit Reporting Business", Announced the list of the first eight institutions to obtain personal credit reporting licenses, respectively: Tencent Credit Information Co., Ltd., Zhima Credit Management Co., Ltd., Shenzhen Qianhai Credit Information Center Co., Ltd., Pengyuan Credit Information Co., Ltd., China Chengxin Credit Information Co., Ltd., Zhongzhicheng Credit Information Co., Ltd., Lakala Credit Management Ltd., Beijing Huadao Credit Information Co., Ltd..

subsequently, It was clearly stated in the "Guiding Opinions on Promoting the Healthy Development of Internet Finance" issued by the central bank and other ten ministries and commissions, Allow qualified practitioners to apply for credit reporting business licenses in accordance with the law.