BEIJING: China's banking and insurance regulator on Saturday (May 9) issued draft rules on commercial banks' online lending business, in a move to rein in financial risks. Bank loans issued online cannot be used to purchase property, stocks, bonds, futures and financial derivatives.
BEIJING: China's banking and insurance regulator on Saturday issued draft rules on commercial banks' online lending business, in a move to rein in financial risks.
Bank loans issued online cannot be used to purchase property, stocks, bonds, futures and financial derivatives, the China Banking and Insurance Regulatory Commission said in a statement.China also said on Saturday that it is willing to offer support to North Korea within its ability against the coronavirus epidemic, state television said, quoting President Xi Jinping as saying in a letter to North Korean leader Kim Jong-un.
Xi said he was very concerned about the situation in North Korea and the health of its people, and said he was pleased that its efforts to control the respiratory illness had achieved positive results, state television said. - Reuters
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