Consultation Paper Issued to Regulate CB’s Online Lending Biz

作者/编者:Yu Leimin, Wang Rong and Zhang Yushi
作者单位:金杜律师事务所
创作年代:2020
出处/来源:金杜律师事务所
学科分类:商法学
所属机构:金杜律师事务所
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摘要

With the extensive use of the Internet technology, online lending business is booming in recent years. The Interim Measures on the Administration of Personal Loans (the “PL Measures”) and the Interim Measures on the Administration of Working Capital Loans (the “WCL Measures”), both promulgated in 2010, are not able to fully satisfy the new business demands and regulatory requirements generated by the technology developments.  As a result, there is an urgent need for the regulators to formulate specific rules regulating the online lending business in order to promote the growth of the industry in a sound and compliance manner.On May 9, 2020 the China Banking and Insurance Regulatory Commission (the “CBIRC”) published the Interim Measures on the Administration of the Online Lending of Commercial Banks (Consultation Paper) on its website, soliciting comments from the public officially.  As the Interim Measures on the Administration of the Online Lending of Commercial Banks is an important regulation to be promulgated, which, among others, is indicated in the legislative plan of the CBIRC in 2020, the release of the Consultation Paper would accelerate the promulgation and implementation thereof.

关键词: Consultation Paper; Online Lending Business; Restrictions and Requirements

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Consultation Paper Issued to Regulate CB’s Online Lending Biz

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