Chinanews.com client, July 22. The private lending rate set a legal protection limit of 24%. Is this rate too high? On the 22nd, at a press conference of the Supreme Court, Zheng Xuelin, a member of the Supreme Court’s Judicial Committee and President of the Civil Court, said that we are studying the issue of excessively high private lending interest rates for judicial protection reflected in the society. He introduced that the Civil Code passed this year clearly stipulates that the state prohibits usury and the interest rate of borrowing must not violate relevant state regulations. At present, the Supreme People's Court is carrying out the revision of the judicial interpretation of private lending in accordance with the latest provisions of the Civil Code, and adjusting the upper limit of judicial protection of private lending interest rates is an important part of it.
The Supreme Court responds to the excessively high interest rates of private lending: research is under way
2020-07-22T03:21:05.668Z
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Chinanews.com client, July 22. The private lending rate set a legal protection limit of 24%. Is this rate too high? On the 22nd, at a press conference of the Supreme Court, Zheng Xuelin, a member of the Supreme Court’s Judicial Committee and President of the Civil Court, said that we are studying the issue of excessively high private lending interest rates for judicial protection reflected in th...
Source: chinanews