The registered capital of CITIC Consumer Finance increased from 300 million yuan to 700 million yuan.
On May 27, the Beijing Banking, Insurance and Regulatory Bureau issued a reply approving CITIC Consumer Finance Co., Ltd. to increase the registered capital from 300 million yuan to 700 million yuan. After the change of registered capital, the composition of shareholders, registered capital contribution and contribution ratio are as follows: China CITIC Co., Ltd., with a capital contribution of 245.7 million yuan and a contribution rate of 35.1%; CITIC Trust Co., Ltd., with a capital contribution of 244.3 million yuan and a contribution rate of 34.9 %; Kingdee Software (China) Co., Ltd., with a capital contribution of 210 million yuan and a capital contribution rate of 30%. 
In June last year, CITIC Trust participated in 34.9% of CITIC Consumer Jin was officially incorporated and became the first trust company in the Chinese trust industry to obtain a consumer finance license. The annual report of CITIC Trust shows that the scale of CITIC Consumer Financial Assets has grown steadily, serving more than 400,000 customers.
In June last year, CITIC Trust participated in 34.9% of CITIC Consumer Jin was officially incorporated and became the first trust company in the Chinese trust industry to obtain a consumer finance license. The annual report of CITIC Trust shows that the scale of CITIC Consumer Financial Assets has grown steadily, serving more than 400,000 customers.
China ’s consumer finance market continues to heat up. CITIC Consumer Finance is the 24th consumer finance company approved by the China Banking and Insurance Regulatory Commission.
The “2019 China Consumer Credit Market Research” report released by Tsinghua University shows that the size of China’s consumer finance market is expected to double in 2019-2023. The market size is expected to be close to 3 trillion yuan in 2024. The acceptance and satisfaction of consumer finance companies in China is increasing, and the annual growth rate of adults willing to use consumer financial services exceeds 10%.