One of China’s leading joint-stock lenders has unveiled a multi-prong campaign to better educate elderly Chinese financial consumers about various forms of financial risk.
The Beijing branch of the Shanghai Pudong Development Bank (SPD Bank) launched its “315 Financial Consumer Rights Day” (315金融消费者权益日) on 15 March, with the goal of “protecting the legal rights and interests of financial consumers and spreading knowledge on financial consumption.”
SPD Bank said that it has adopted multiple measures directed specifically at elderly Chinese with poor financial risk awareness, in order to help them to “identify financial traps and raise their risk resistance capability.”
These measures included awareness campaigns held at the branch outlets of SPD Bank in Beijing involving LED screens displaying financial risk awareness slogans, the distribution of financial education pamphlets and consumer awareness displays at teller desks.
SPD Bank staff are also required to be on the alert for irregular deposit withdrawal or investment activity by elderly customers, as well as provide them with fraud warnings and investor education.