Responsible consumer finance to ease risks

Experts: Adherence to standards will expand coverage, maintain stability

Financial industry officials and experts highlighted the significance of responsible consumer finance to better control risks and maintain financial stability at a recent financial inclusion forum.

"International and domestic experience shows that consumer finance is a double-edged sword. If we let it develop in a freewheeling style, it may trigger risks and endanger financial stability," said Yu Wenjian, director of the financial consumer protection bureau of the People's Bank of China, at the 2019 International Forum for China Financial Inclusion in Beijing last week.