South China Morning Post

China bans online promos for loans, insurance by private brokers to prevent loan misuse

Starting on Wednesday, new regulations governing the online marketing of financial products – including loans, insurance and deposits – by loan-assisting service providers take effect in China. According to analysts, one of the driving considerations behind the measure is to curb the improper use of bank loans. The regulations were jointly released by eight ministries, headed by the People’s Bank of China in April. They explicitly stipulate that only financial institutions and third-party...

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China bans online promos for loans, insurance by private brokers to prevent loan misuse
China bans online promos for loans, insurance by private brokers to prevent loan misuse

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