Chinanews.com client, November 3rd. The "Interim Measures for the Administration of Online Small Loans (Draft for Comment)" drafted by the China Banking and Insurance Regulatory Commission in conjunction with the People's Bank of China and other departments show that small loan companies operating online small loans should According to the borrower's income level, overall liabilities, asset status and other factors, reasonably determine the loan amount and duration so that the borrower's repayment amount does not exceed its repayment ability.
In principle, the balance of single-family online micro-loans for natural persons shall not exceed RMB 300,000, and shall not exceed one third of their average annual income in the last three years. The lower of the two amounts is the maximum loan amount; In principle, the balance of single-account online small loans of legal persons or other organizations and their related parties shall not exceed RMB 1 million.