Enterprise in Jing’an: financial innovation creates a new industry


(Reporter: Shi Danni) Auto financial business covers over 1700 distributors in 351 cities in China; auto financial credit financing balance increases 16% on a year-on-year basis; assets quality maintains the optimal in the industry. All the extraordinary achievements above are created by SAIC Finance based in Jing’an.


First five pilots in the nation

The finance company in supply chain financial


SAIC Finance, with a history of more than 20 years, constantly leads the financial institutions in Jing’an. As an innovative financial institute, it becomes the earliest pilot and entrant in most of the new business of the industry and the sole industry entrant in certain businesses, which results from its excellent contribution to business expansion and risk management. Several innovative measures of the company make it realize the financial dream of being grounded in Jing’an and expanding to the whole nation.


SAIC Finance is a non-bank financial institute established in 1994 by approval of the People’s Bank of China. Its registration capital is RMB3 billion and is invested and founded by SAIC Motor and SAIC Industrial Sales. According to its latest yearly enterprise statement, in 2014, its operation revenue achieves 6.115 billion, its total assets at the year end reaches 103.1 billion and the net profit hits 2.453 billion. It remains over 25% increase on the basis of constant high growth in nearly 5 years.


In 2014, SAIC Finance becomes the one of the first five supply chain financial pilots and is approved to conduct 6 trial businesses such as factoring business with suppliers except for SAIC, establishment financing business with distributors, repair loan business with clients on auto consumer loans, maintenance extension and maintenance loan business with clients on auto consumer loans, auto insurance loan business with clients on auto consumer loans and retailing loan business to used cars under SAIC brand members.


In the same year, SAIC Finance trademark is awarded as “Shanghai famous trademark” as one of the five awarded financial enterprises. Its “vehicle qualification certificate remote monitoring and management program” obtains 2014 Shanghai “Third Prize of Financial Innovation”. The company is awarded “Yearly most innovative financial company” in the awarding ceremony of 2014 China Financial Institutes Gold List held by Financial Times and financial research institute of Chinese Academy of Social Science. Meanwhile, SAIC Finance has been among the top 100 tax list of tertiary industry in Shanghai for several times.


Coordination between industry and finance

Provide optimal financial plan for consumers


In coordination between industry and finance, SAIC provides optimal financial rate, supports SAIC self-owned brand development and covers 7 types of its self-owned brands. The company launches 020 model on personal loan business to work with the promotion of Auto Fun Net established by SAIC and create integrated payment platform for all enterprises under SAIC; cooperate with the directional procurement of urban express vehicles in commercial auto company to provide the optimal financial plan for it. It brings about convenience to the whole supply chain.


At the same time, it directly connects the large sum payment system of the People’s Bank of China and achieves online liquidation for electronic bills. It further develops and completes online discounting system for electronic bills and pushes forward the development of electronic bills business. Moreover, in 2014, it enters into its first enterprise “capital pool” business and develops the system for multi-channel and enterprise- bank payment platform led by financial companies.


SAIC Finance, in addition, works out Work plan for credit system building and Guidance for credit system management. It makes a systemic arrangement for the credit system building, keeps strengthening and improving credit rating indicator system and applies the system to each business like auto finance and company finance, and investment finance to further control risk investment.


Focus on talents cultivation, develop enterprise culture

Talent is a critical point in enterprise development. So it is in internet finance. SAIC Finance focuses on introducing innovative talents in urgent need and mainly employs professionals in internet and e-commerce platform. As to its staff training, the company organizes special training on “internet and finance innovation”, in-service training program for auto financial marketing teams and special courses on accounting and information technology.


SAIC Finance persists in building enterprise culture both internally and externally. Externally, it attaches importance at improving public image and employer brand image of the company to create a decent external environment, such as launching the new official website, developing e-commerce platform “e-loan for good cars” and updating the official Wechat; in campus employment, it displays company’s image through promotion video, employs professional widely and appoints senior executive to serve as MBA instructor in Shanghai University of Finance and Economics. Internally, the company focuses on improving staff cohesiveness and effectiveness to create a harmonious enterprise atmosphere. SAIC Finance conducts 20 year exhibition, essay contest, talent show and 20th anniversary activities collection to enhance staff’s sense of honor and team spirit; the company extends its warmth to the field workers by launching 24-hour medical service hot line for their relatives, founding “wives club” and expressing solicitude to the field workers during holidays; and boots staff passion by holding star worker election.


 (Source: Jing’an Times)