Rebirth: Super Banking System

Chapter 2273: Chapter 2093: Slim Profits

Unlimited restrictions.

Good.

Also not good.

The good side is convenient financing. The bad side is for the same reason---the main gate is open, Qingfeng has blown in, but it’s not just Qingfeng.

Turbid air.

The smell of food.

Flies.

Mosquitoes.

...

All have come.

Many policies come out, the original intention is actually very good, but they cannot resist those with ulterior motives who want to exploit loopholes and use the rules to gain huge profits.

Disrupting the market.

Therefore.

The general principle of this type of policy is to loosen first and tighten later, because when legislation is made, many new things haven’t appeared yet, anticipating in advance is very difficult.

Can only be like clothes.

There are holes.

Patch them well.

Let those who need clothes be able to wear them, avoiding one-size-fits-all, so flies and mosquitoes can’t get in, but fresh air can’t be breathed either, that would be a failure.

...

Overconsumption.

In Huaxia.

Has not always been recognized, the mainstream thought is to eat as much as you have, if you can’t afford it, endure it first, generally not borrowing money for consumption.

Indeed.

This habit is very good.

No.

Should say it’s extremely good, there’s a saying that goes well, if there’s food at home, there’s no panic in the heart, if it’s like in Europe and America, living on future earnings, it’s fine in normal times.

However.

Once in extraordinary times.

---Depression.

Countless bankruptcies occur, many people’s houses are to be taken back by the bank, many people’s cars can’t even fuel up, and then they eagerly wait for relief.

It can be quite miserable.

However.

The root of all this is not the fault of overconsumption, but unrestrained overconsumption, anything, no matter how delicious.

Eaten in excess, it could be insufferable.

Therefore.

Tang Qing opposes unrestrained overconsumption.

If there’s restraint.

Grasping a degree, consuming ahead by one fifth to one tenth of annual salary expectations, is a reasonable proportion.

For oneself.

For others.

For enterprises.

For the nation.

All have numerous advantages.

First.

One enjoys the satisfaction, secondly, without borrowing money, damaging relationships, enterprises earn money, and the nation gains tax revenue.

For example.

A person with an annual salary of a hundred and twenty thousand can have a Huabei limit of twenty-four thousand, this money, no matter what, doesn’t reduce their annual quality of life.

Then.

It is a business benefiting the nation and its people.

Among them.

What really needs vigilance is the rise of black market loans; personal loans in the past were ruined by excessively high interest black market loans.

Thousands.

Roll, roll, roll.

Tens of thousands.

One hundred thousand.

Commonplace.

Many are explicitly setting traps, entirely fraudulent actions, which obviously should be combated, when encountered in such situations, the best approach is to report to the police.

Of course.

Cannot escape the principal and interest that need to be repaid.

Usury.

Its definition is: annual interest rate exceeding thirty-six percent, a helpless reality is, currently in the judiciary, usury doesn’t constitute a crime.

It’s merely a civil economic dispute.

Go to court.

Repay principal and interest, below an annual interest rate of thirty-six percent, needs repayment as usual. Above that portion, no need to pay, on this, Tang Qing disagrees.

Thirty-six.

Below.

Is a civil dispute, feasible.

But above.

Should be directly considered a crime, imprison those who should be imprisoned, sentence those who should be sentenced, this kind of interest rate has severely disrupted socioeconomic order, must be severely combated.

Too high.

Vicious.

Needs severe punishment.

On this.

Tang Qing is not inactive, when some play with black market loans, they are treated like fraudsters, attacked, reported, or bloodletting with black market loans.

Let them lose everything.

Many methods.

Otherwise.

What originally was a respectable financial act is surpassed, turning into a target for public condemnation, somewhat unjust, and lets those swindlers truly see.

---The cruelty of society.

...

Following.

The vice president detailed the characteristics of Huabei, interest rate, because it needs company-wide coordination, it’s considered a comprehensive report.

Tang Qing listened quietly.

Interest rate.

Not high.

On installment payment for a year, seven percent.

If overdue, daily penalty interest is five out of ten thousand, cumulative not low, but it depends on the situation, Huabei stimulates none of overly large consumption.

After all.

No matter what, there must be a limit.

One thousand.

Two thousand.

Five thousand.

Currently set the cap at twenty thousand, only when consumption over this number within a year is made, it’s given, annual interest rate is much lower than credit cards.

Moreover.

This five out of ten thousand is only if overdue.

If not overdue.

If repaid the next month, Huabei has no interest, longest interest-free period is forty days, even on installment payment, the collected interest is minor.

Three installments, one point eight.

Six installments, four point five.

One year, seven point five.

Really.

Very conscientious.

Secondly.

It’s about credit.

Temporarily can only rely on enterprise self-confidence assessment, bank’s credit investigation, which Ali cannot check, therefore, mainly using two aspects of the credit system.

First.

Ali.

Basing it on its past consumption.

Second.

Xiao Xiao.

As the largest office software system in Huaxia, already possesses massive work relations, and its own credit assessment system, quite mature.

Thus.

Avoid some bad debts.

Finally.

Then it’s confirming the launch time, set for August thirty-first.

...

After the meeting.

Exclusive connection with Jack Ma.

"This attempt should enable Ali to move faster, wait until testing is completed at the end of the year, Ali’s overseas finance service platform can also be launched."

Jack Ma said.

Now.

Ali steps out of the country, expands on a large scale.

Naturally.

Won’t miss overseas consumer finance market, after all, Huabei installment interest, although small, as long as scale is achieved, there’s profit.

Why not much?

Calculate.

Bank loans require interest, and it’s commercial loan interest, quite considerable, cost calculated, already five point something percent.

Besides.

ABS is the same.

Financing.

Isn’t borrowing how much, repaying how much, people buy your ABS bonds, is to see the return, if the return is almost like storing in bank, only fools buy.

This cost.

Four to five percent.

Therefore.

After deducting various fees, tax rate, etc., leaving Ali’s pure profit, less than two percent, outsiders still think Ali earns a fortune.

Who knows.

-Bank.

-Securities Broker.

-Investor.

All sides draw a cut, judging by the fee rate, you know Huabei hardly earns a thing, comparably, Jiebei earns a bit more.

Directly five out of ten thousand, same as credit cards.

However.

Still not termed as huge profit.

Because.

Ali’s money is borrowed from banks, or financed, banks use their own money for credit cards, earn a few percentage points more than Ali.

This time.

Taking advantage of the opportunity, Ali has obtained consumer finance licenses in many countries, at this moment, he profoundly feels the strength of those allies.

Seems.

In their country, nothing unattainable.

Significant influence.

Up and down accessible.

Moreover.

At least a third have opened banks, though varied in size, hearing about network consumer finance, very interested, all took a share.

Therefore.

Ali gained more than ten financial licenses.

And.

These subsidiaries, Alibaba Holdings, local partners shareholding, almost solved Ali’s overseas financing problems, some don’t even need to do ABS.

Direct interbank borrowing, lowering costs significantly.

Thus.

Causing an awkward issue, with Huaxia’s Huabei interest rate, being higher than foreign ones, in the future may be criticized by uninformed masses.

Saying you’ve earned more of their money.

Black heart.

Profiteering.

Swindler.

"..."

On this.

Of course it’s merely considered a joke.

This matter.

Isn’t something that can’t be explained, the majority of masses, mostly have their heads.