China asks banks, internet firms to clearly disclose annualised interest rates for all loan products

  • 3/31/2021
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BEIJING, March 31 (Reuters) - 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.

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