Beijing, March 16 (Reporter Qu Xinming) The State Administration for Financial Regulation recently issued a notice requiring financial institutions to develop consumer finance to better meet financial needs in the consumer field. Banking financial institutions are encouraged to increase the issuance of personal consumer loans under the premise of controllable risks, reasonably set consumer loan quotas, terms, and interest rates, and optimize resource allocation. On the premise of effectively verifying identity and controlling risks, explore the online opening and activation of credit card business.
The head of relevant departments and bureaus of the State Administration for Financial Regulation said that banking financial institutions can reasonably agree on the term and frequency of loan repayment for borrowers who are temporarily in trouble based on the borrower’s credit history and repayment guarantee. According to the borrower’s application, loan renewal support will be provided to qualified borrowers after passing the review.
Banking financial institutions should regulate the terms of consumer loan contracts and clearly state the final comprehensive financing cost. Make good use of the financial product inquiry platform and the financial consumer protection service platform to facilitate consumer inquiry and use. Promote the convenience of payment in consumption scenarios to meet the payment service needs of the elderly, foreigners coming to China and other groups. Improve the diversified resolution mechanism for financial consumption disputes and properly resolve consumer finance disputes.
In addition, financial institutions should enrich and improve financial products and services around expanding commodity consumption, developing service consumption and cultivating new consumption. For new consumption scenarios such as digital, green, and intelligence, financial products are tailored to better meet personalized and diversified financial needs, continuously strengthen digital empowerment, and enhance the adaptability and convenience of consumer financial services. Increase credit supply to consumer service industries such as wholesale and retail, accommodation and catering, cultural tourism, education and training, and healthy elderly care to support the healthy development of consumer supply entities.
“People’s Daily” (Page 02, March 17, 2025)
[Editor in charge: Cheng Erfan]
