The State Administration for Financial Supervision and Administration issued a notice today (March 14), proposing specific measures to optimize consumer finance policies to help boost consumption based on enriching financial products, facilitating financial services, and creating a good consumption environment.
The State Administration for Financial Regulation requires financial institutions to tailor financial products to new consumption scenarios such as digital, green, and intelligence to better meet personalized and diversified financial needs. Increase credit allocation to consumer service industries such as wholesale and retail, accommodation and catering, cultural tourism, education and training, health and elderly care.
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.
At the same time, personal consumption loan relief will be carried out. Banking financial institutions can reasonably agree on the term and frequency of loan repayment based on the borrower's credit history and repayment guarantee for borrowers who are temporarily in trouble. According to the borrower's application, loan renewal support will be provided to qualified borrowers after passing the review.
In terms of optimizing the consumer finance environment, the head of relevant departments and bureaus of the State Administration for Financial Regulation stated that banking financial institutions should regulate the terms of consumer loan contracts and clearly state the final comprehensive financing cost. At the same time, we will increase joint punishment and crackdown on behaviors such as disrupting market order and infringing on the rights and interests of financial consumers.
(CCTV reporter Zhang Daofeng)
