PBOC Deputy Governor Zou Lan Urges Responsible Lending, Clear Cost Disclosure

Cointime update: People’s Bank of China Deputy Governor Zou Lan said on Nov. 13 at the 17th Caixin Summit that financial institutions should interpret credit reports correctly and avoid over-reliance on the credit system. He called for strict compliance with rules on disclosing comprehensive financing costs and online marketing of financial products, urging responsible lending and differentiated operations. The public, especially young people, should build sound credit habits, borrow rationally and repay on time, he said.