A Research On The Business Strategies Of The Automobile Credit Card Installments Of Zhejiang Province’s Rural Cooperative Financial Institutes

Along with the rapid development of the automobile industry and the process of the consumption stimulating policy, the automobile finance is becoming another important consumer credit service like the home loan. The automobile installments is one of the mainly product of the credit card business, while the installments service income becoming the new and key source of the banks’off-balance incomes. The Zhejiang province’s rural cooperative financial institutes (RCFIs), acting as the institutes based on the county-wide economy and serving for the agriculture issues, have been made a significant progress in the consumer credit and credit card business by system optimizing and innovation. However, those institutes are in dire need of the breakthrough in product innovation and return mode transition.The article combines the author’s working practice with the research on the business strategies of the automobile credit card installments of those institutes. Firstly, the author gives a survey to the background, patterns and characteristics of the automobile finance service, comparing the automobile installments service of eight commercial banks. Afterword, the author analyzes the necessity of the automobile installments to the RCFIs of Zhejiang province. Last but not least, the author gives the advices on the business strategies of the automobiles installments as well as it’s targets and principles, which may be helpful for those institutes’ product innovation and business mode transition.The article made three innovations in such research. First, the research is based on the background of the overall plans of urban and rural development by the country, integrated with the strategic transition and an individual product of the RCFIs. Second, by comparing the SWOT of the automobile installments service of the RCFIs with those of the other commercial banks, the strategies provided by the author are more purposeful and practical. Third, the research focuses on the rural cooperative financial institutes, as well as proving the necessity and possibility of new rural finance service. Thus may be used for reference in the progress of "matured finance province" strategy and new rural financial system improvements.