CCTV News: On March 16, the China Internet Finance Association issued an initiative to adhere to the principle of "technology for good and finance for the people."

On the evening of March 15, CCTV's "3.15" Gala exposed the situation of consumers suffering from usury loans through electronic signature platforms such as Jiedaibao and Renrenxin, being charged head interest and overdue fees, being violently collected, and not being able to find the lender. Such incidents exposed some Internet platforms that are covered in the guise of "financial technology" and "inclusive finance" have serious problems in technology application, compliance operations, consumer rights protection, etc., and are suspected of committing illegal and criminal activities. In order to implement the relevant requirements on strengthening the protection of financial consumer rights and interests, cracking down on illegal financial activities, and promoting the standardized and healthy development of the Internet financial industry, the China Internet Finance Association has issued the following initiatives for Internet financial practitioners: 1. Always adhere to the original intention of "technology for good, finance for the people", strengthen scientific and technological ethics review, promote the standardized development of science and technology to empower finance, realize the positive unity of technical tools and financial values, and eliminate technology abuse.

2. Build a solid bottom line for compliance operations and strictly abide by business boundaries. It is strictly forbidden to provide technical convenience or information cover for illegal and irregular activities such as usury, routine loans, collection of head-cutting interest, violent collection, illegal loan intermediaries, etc. It is strictly forbidden to use technical means (such as forged identity information), help partners (such as professional lenders), or induce consumers (such as choosing IOUs) to evade financial supervision.

3. Effectively fulfill the obligations of the first person responsible for the protection of consumer rights, incorporate consumer rights protection into the core framework of corporate governance and the core indicators of company operations, establish a "consumer rights impact assessment" system, and conduct comprehensive assessments of scientific and technological applications, data protection, algorithmic discrimination, etc. for products and partners.

4. Strengthen self-discipline and constraints on online marketing activities of financial products and post-loan collection behaviors, follow the relevant requirements of the "Initiative of the China Internet Finance Association on Regulating Financial Institutions' Entrustment of Third-Party Internet Platforms to Carry out Loan Online Marketing Activities" and the national standard "Guidelines for Internet Finance, Personal Internet Consumer Credit, Post-loan Collection Risk Control" (GB/T 45251-2025), and fully implement the concept of "responsible finance".

Technological innovation promotes the transformation and development of financial services, but it is by no means a "protective umbrella" for illegal operations. All practitioners of Internet finance should learn from this incident, adhere to the original intention of "technology for good and finance for the people", take consumer rights protection as the foundation, and jointly promote the standardized and healthy development of the Internet finance industry.