China Eases Auto Loan Policy to Spur Consumption
China Eases Auto Loan Policy to Spur Consumption
Cars for personal use will be eligible for 0 percent down payment, while previously consumers were required to pay at least 20 percent of down payment for conventional cars and at least 15 percent for NEVs.
个人用车将有资格获得0％的首付，而以前，消费者需要为传统汽车支付至少20％的首付款，为新能源汽车支付至少15％的首付。
(Image credit: CnEVPost)
（图片来源：cnevPost）
China has relaxed its policy on lending for personal-use cars as part of an effort to stimulate consumption.
作为刺激消费的努力的一部分，中国放松了个人用车贷款政策。
Financial institutions can independently determine the maximum percentage of loans for conventionally powered vehicles and new energy vehicles (NEVs) for personal use based on the borrower's creditworthiness and repayment ability, according to an announcement jointly issued by the People's Bank of China (PBOC) and the National Financial Regulatory Administration.
根据中国人民银行（PBOC）和国家金融监督管理局联合发布的公告，金融机构可以根据借款人的信誉和还款能力独立确定个人使用的常规动力汽车和新能源汽车（NEV）贷款的最大百分比。
For commercial conventionally powered vehicles, the maximum loan ratio is 70 percent, and for commercial NEVs the maximum ratio is 75 percent, according to the announcement, dated March 28 and posted today on the PBOC website.
根据3月28日发布并于今天在中国人民银行网站上发布的公告，商用传统动力汽车的最高贷款比率为70％，商用新能源汽车的最高贷款比率为75％。
For used cars, the maximum loan ratio is 70 percent.
对于二手车，最高贷款比率为70％。
The move is aimed at increasing financial support for auto consumption, promoting auto trade-in, and stabilizing and expanding auto consumption, the announcement said.
公告称，此举旨在增加对汽车消费的财政支持，促进汽车以旧换新，稳定和扩大汽车消费。
China's previously implemented auto loan policy was released in November 2017, in which the maximum loan ratio was 80 percent for traditional-powered vehicles used for personal purposes and 85 percent for personal-use NEVs.
中国先前实施的汽车贷款政策于2017年11月发布，其中用于个人目的的传统动力汽车的最高贷款率为80％，个人用途的新能源汽车的最高贷款率为85％。
The previous maximum ratio for loans for commercial conventional-powered vehicles was 70 percent, 75 percent for commercial NEVs and 70 percent for used vehicles.
此前商用常规动力汽车的最高贷款比率为70％，商用新能源汽车的最高贷款比率为75％，二手车为70％。
The new policy released today means that consumers will be able to make 0 percent down payment on their purchase of an automobile for personal use. The loan requirements for commercial and used vehicles remain unchanged.
今天发布的新政策意味着，消费者在购买供个人使用的汽车时将能够支付0％的首付。商用车和二手车的贷款要求保持不变。
The new policy is effective as of the date of its release, and the previous policy from 2017 is repealed, according to the announcement on the PBOC website.
根据中国人民银行网站上的公告，新政策自发布之日起生效，2017年以来的先前政策已被废除。
Financial institutions are encouraged to reduce or waive default penalties arising from early loan closure during the auto trade-in process to support reasonable auto consumption demand, according to the announcement.
公告称，鼓励金融机构减少或免除因汽车以旧换新过程中提前关闭贷款而产生的违约罚款，以支持合理的汽车消费需求。
Senior Chinese official says state-owned automakers not moving fast enough on NEVs
中国高级官员说，国有汽车制造商在新能源汽车上的发展速度不够快