
COMPANY INTRODUCE
China Hongyang Group, is an integrated enterprise with the research & development, production and marketing of Fuel Dispenser and related accessories as well as service station concerning equipments. It concentrates on the relative manufacture & services of filling station such as Hongyang tax control Fuel dispenser, IC Card fuel dispenser, manage system of network for stations, submerge pump and liquid level devise. China Hongyang Group, designed supplier of SinoPec and PetrolChina, our HONGYANG products have been sold to over 50 countries in South-east Asia, Mid-east, Africa, Europe and well received in their markets.
we are committed to create the best workplace, encourage our staffs to put their own personalities into their jobs, and provide them a stage to show themselves.
upreme Court ruling in January against rates in excess of the
15-20% ceiling. This cost consumer-finance companies a lot of
money. Shares of the top four have fallen by almost half since
then (see chart).
But the complaints from Japanese lenders are nothing compared
with those from their foreign-owned rivals. These companies say
that lower rate caps would discourage lending to anyone but the
most reliable borrowers, driving the rest towards loan sharks
who charge truly exorbitant interest rates. That, some add,
would provoke a credit crunch just as Japan s economy is
getting back on its feet.
All of which the market regulator, the Financial Services Agency (FSA), takes with a pinch of salt. Both it
and a subcommittee within the ruling Liberal Democratic Party (LDP) insist the system as it stands is
unhealthy for borrowers. “We want a country where people don t overburden themselves with debts they
cannot repay,�says a senior FSA official.
As well as unifying the rate caps, the reforms bring in new measures to crack down on illegal loan sharks.
They also tighten restrictions on borrowing from several creditors and stiffen the rules on licensing
lenders. The LDP subcommittee disputes claims that lending will decline, hurting economic growth. Its
research shows that many borrowers are simply rolling over loans, rather than borrowing for lavish
spending sprees. Lower rates may encourage more sensible borrowing, even if they discourage reckless
lending. Meanwhile, claims that 10m-15m borrowers would be forced to turn to loan sharks if they
cannot borrow elsewhere are nonsense, FSA officials say.
Mr Kawamura is philosophical. Like others, he says he might have to shut his company down, but he
plans to look elsewhere for business opportunities. Foreign firms are less relaxed. They say it makes
more sense for Japanese authorities to amalgamate the three credit-history databases that banks, credit-
card companies and consumer lenders hold, which fuel dispenser is already a medium-term goal of the ref fuel dispenser fuel dispenser