People's Bank of China and China Banking Regulatory Commission, Guiding Opinions on Enhancing Financial Support to New Consumption Sectors

中国人民银行、银行业监督管理委员会关于加大对新消费领域金融支持的指导意见

April 14, 2016 | BY

Susan Mok &clp articles

Banks encouraged to approve consumer loans online.

Issued: March 24 2016

 

Main contents: The Opinions encourage qualified banking financial institutions to establish institutions that specially cater to new consumption sectors (Article 1). They encourage banking financial institutions to consider using new technical means, such as the internet, to carry out remote customer authorization to realize online application for, and approval and extension of, consumer loans (Article 3).

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