Since 2000, China has completed a leap in car sales from millions to tens of millions of dollars in a leap-forward development. The resulting auto finance industry has become the star industry in recent years, attracting a large number of capitals and participants to enter the market. Auto finance ushered in a period of vigorous development.
According to statistics, in 2017, China’s automobile sales reached 28.887 million vehicles, which was a year-on-year increase of 3%. Sales volume was the highest in the world for last nine years. The huge demand has driven the explosive growth of the auto financial market. Related institutional research report also pointed out that by 2020, China's auto finance market will reach 2 trillion and the consumer financial penetration rate will increase to 50%. The future market development prospects are very promising.
At the same time, the China auto finance market was full of opportunities and challenges. The emerging market players and outpouring business models have put forward serious challenges to traditional business models and capital channels. At the same time, financial technology has indeed injected new vitality into auto finance, but it cannot change the nature of finance. Risk control and compliance remain key concerns for market participants throughout their development.
It’s against this background, the "2018 China Auto Financial Innovation Summit", jointly organized by Frontier Finance Institute (FFI) and related industry Authorities, will be held in Shanghai from January 6th to 7th. This conference focuses on the latest developments of domestic and foreign auto finance industry, policy implications, business model innovation, product innovation, and big data risk control, sharing the most cutting-edge financial technology applications, and exploring opportunities for the development of the auto finance industry.
We look forward to your participation and share this auto finance innovation grant event!
The Organizing Committee of China Auto Financial Innovation Summit 2018