China asks banks, internet firms to clearly disclose annualised interest rates for all loan products
The notice also asked other entities - including deposit-taking institutions, auto loan companies, consumer finance companies, micro loan firms, as well as internet platforms that advertise loan products - to disclose these rates
China's central bank asked financial institutions on Wednesday to clearly disclose annualised interest rates for all loan products, in order to enhance consumer protection.
The notice also asked other entities - including deposit-taking institutions, auto loan companies, consumer finance companies, micro loan firms, as well as internet platforms that advertise loan products - to disclose these rates.