Consumer Credit In China And Its Countermeasures Research

Consumer credit is a financial product that emerges to harmonize the conflicts between consumption and production, as the economy developed to a certain stage where the credit system is quite sophisticated and the growth rate of consumption lags behind that of production.Consumer credit in China got off the mark with the introduction of the housing system reform, but it did not came into full-scale implementation until the central bank's issuance of the Guide for Personal Consumption Credit Operation in March 1999. In our market economy, consumer credit can be an important measure to adjust consumption demand, stabilize the economy and ameliorate the quality of commercial banks' assets. From experience of the developed countries, the development of consumer credit is beneficial to all the parties-government, banking system and consumers. However, the development of consumer credit of our country is not smooth, the rate of the amount of consumer loan to the amount of total loan is smaller, the gap is large comparing with western developed countries. Then how to deeply develop consumer credit in China and how to give full play to affect of consumer credit, which is a task for our economical workers to research.The paper studies on the factors of demander and supplier restricting the development of consumer credit and analyzed in the present. Based on some related theories of Consumption Economy, this paper analyzes not only the main restricting factors influencing the present development of consumer credit in China, but also the realistic significance and advantage conditions of further practicing consumer credit policy. These are analyzed by comparison of the general situation in consumer credit development in China and abroad, meanwhile combined with the reasons and experience in developed countries and areas, such as American, England, Singapore and so on. Furthermore, the paper points out some restrictive factors, which are the countries, the commercial bank, and the consumer ideas. The paper also puts forward the emphasis and suggestion on further practicing consumer credit policy at the present stage in China, such as the more perfect government policy, the better credit system, the better service of commercial bank, and the action of agency institution.The paper focuses on the developing problem of consumer credit, which isimportant to open consumer market , to accelerate economy increasing, to build up consumer consciousness, to breed new profit point and so on.