CBIRC Calls for Improvements to Quality of Online Lending by Chinese Commercial Banks


The China Banking and Insurance Regulatory Commission (CBIRC) has issued a directive calling for improvements to the quality of Internet finance.

CBIRC recently issued the “Notice on Strengthening Commercial Bank Internet Lending Operations Management and Improving Financial Services Quality and Effectiveness” (关于加强商业银行互联网贷款业务管理 提升金融服务质效的通知).

CBIRC said that the release of the Notice is for the purpose of “further standardising the operating conduct of commercial bank online lending operations, and expediting the healthy and stable development of online lending operations.

With regard for online lending operations, the Notice calls specifically for:

  • Upholding equal emphasis on development and standardisation.
  • Encouraging commercial banks to steadily and appropriately drive digital transformation.
  • Making full use of online lending operations to assist market entities in alleviating (Covid-related) difficulties.
  • Strengthening financial services for new urban residents.
  • Optimising financial support for consumption in key areas.
  • Strengthening information and data management.
  • Improving loan and fund management.
  • Standardising management of cooperative operations.
  • Strengthening protections for consumer rights and interests.

The Notice also extends the transitional period for the “Commercial Bank Online Lending Management Provisional Measures” (商业银行互联网贷款管理暂行办法) until 30 June 2023, in order to ensure that “there is no reduction in the intensity of support of Internet lending operations for the real economy”.