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Regulators crack down on improper lending methods

By Jiang Xueqing | China Daily | Updated: 2019-02-12 07:23

China has strengthened consumer lending regulations to prevent loans intended to finance consumption, such as education, traveling and home renovations, from being invested in housing and stocks.

Last year, local banking and insurance regulators imposed administrative penalties on numerous banking institutions nationwide.

Bank of Guiyang Co Ltd's Nanming subbranch was fined 300,000 yuan ($44,490) for granting consumer loans that actually flowed into the stock and housing markets.

Regulators crack down on improper lending methods

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