"Responsible Consumer Finance" standard release


  Consumption is an important engine of economic development, and consumer finance is one of the important means to help consumement restoration and stimulate potential demand.In order to promote compliant operations in the consumer finance industry, the research team of Shanghai Finance and Development Laboratory and the National Financial Supervision and Administration Chongqing Supervision Bureau’s research team jointly wrote and recently released the first “responsible consumer finance” standard for the consumer finance industry.


  It is understood that the “responsible consumer finance” standard is divided into 5 themes and multiple indicators, and the five themes are social and environmental, consumer protection, consumer promotion and improvement, digital financial business risk management, and cooperative management.”In the context of promoting consumption today, especially the financial health of institutions and consumers, standards also provide guidelines from the dimensions of appropriate management and responsible marketing.” Said Zeng Gang, deputy director of the National Financial and Development Laboratory.


  In recent years, strengthening the ethical responsibility of technology companies and financial institutions through “responsible finance” has become the focus of the financial regulatory authorities.In October 2023, the “Implementation Opinions of the State Council on Promoting the High -quality Development of Inclusive Finance” pointed out that advocating responsible and financial concepts and effectively protecting the legitimate rights and interests of financial consumers.


  ”Don’t underestimate the significant value of consumer finance.” Bel Duoguang, Dean of the Institute of Inclusion Finance, Renmin University of China, believes that consumer finance is an important part of inclusive finance.The foundation of consumption is income. In today’s financial and credit society, the growth of consumption not only depends on the current income, but also related to future revenue. Consumption finance will help smooth revenue and expenditure and promote durable consumer goods consumption decisions.


  Because consumer finance business is mainly facing massive personal customers, consumer protection issues are more prominent and urgent in the field of consumer finance.People in the industry said that strengthening the protection of financial consumers’ rights and interests is not only the inherent needs of maintaining financial security and social stability, but also a solid foundation for the long -term and healthy development of the financial industry and the economic and social.


  ”At present, the degree of digitalization of consumer finance business in my country and the complicated ecosystem in it, which means that consumers ‘protection is more complicated. Not only the problems of institutions’ own behavior, pricing, but also the guidance of reasonable borrowing of consumers. The management of partners and data security in the process, these issues are far more than the scope of the traditional consumer finance business. “Zeng Gang believes that being responsible for consumer finance is not to simply eliminate and block all problems, but should be all the problems, but should be all problems, but it should be By guiding the behavior of all parties, continue to improve the market environment of consumer protection, expand the scope of consumer protection, and improve the quality of consumer protection.


  To be responsible, first of all, consumer protection must be done.To this end, a number of consumer finance companies are actively exploring and practicing.For example, in order to help users form a benign consumption, formulate reasonable repayment arrangements, and improve credit management capabilities, Ant Gold provides users with assistance management tools such as bill assistants, Huayan calls, Huayan weekly reports, quota management and other auxiliary management tools.Among them, Huayan’s first rational consumer management tool “Bill Assistant” nationwide, providing users with functions such as bill management, Hua Chao reminders, repayment recommendations, etc., to guide users to form rational consumer credit habits.As of now, about 250 million people across the country are using “bill assistants”, of which more than 100 million people are “post -90s”.


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