National institutions will cease offering the "high interest, high return" car financing model starting from June 1st.

The journalist learned from informed sources that some branches of state-owned banks have received notices from the headquarters, stating that they will stop accepting applications for high-interest car installment plans starting from June 1st. The bank will no longer offer high-interest car installment plans with high commissions, which are generally defined as having commission rates higher than 3%. The source also revealed that it is expected that most financial institutions nationwide will gradually suspend such practices within the next two months, but the specific situation will depend on unified supervision.