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Xiaomi Consumer Finance Approved to Launch Asset Securitization Biz
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The Chongqing Regulatory Bureau of the National Administration of Financial Regulation (NAFR) announced that it has approved the qualification of Chongqing Xiaomi Consumer Finance to commence asset securitization business. The bureau is of the view that Xiaomi Consumer Finance should strictly comply with the relevant provisions of the "Measures for Supervising and Administrating the Pilot Securitization of Credit Assets by Financial Institutions" (Order No. 3 [2005] of the China Banking Regulatory Commission), "Notice of the Office of the China Banking and Insurance Regulatory Commission (CBIRC) on Matters Relating to Information Registration of Credit Asset Securitization of Banking Financial Institutions" (Office of the CBIRC [2020] No. 99), and other regulations, strengthen comprehensive risk management, fulfill the information registration procedures, and continuously improve the information management system to effectively prevent various risks. AAStocks Financial News |
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