Han Kun contributes to the China Consumer Finance Corporation Development Report for the third time
November, 2022 - Beijing, Mainland China
The China Banking Association recently published its China Consumer Finance Corporation Development Report 2022 (hereinafter, the "Report"), organized by the Professional Consumer Finance Commission of the China Banking Association under the instruction of the Other Non-bank Financial Institution Supervision Department of the China Banking and Insurance Regulatory Commission. The Report summarizes and analyzes the state of development of consumer finance companies in China over the past year. The publisher of the Report is China Financial Publishing House.
Han Kun, an active participant in pro bono causes, authored the policy and regulation chapter of the 2022 Report, marking the firm's third consecutive year as the only law firm contributor to this annual publication.
The Report comprises six main chapters: External Environment, Policy Environment, Business Development, Development Features, Social Responsibility, and Outlook, which, through analysis of substantial data and cases, demonstrate the efforts and outcomes of China's consumer finance companies in facilitating Covid-19 response, upgrading consumption, inclusive finance, protection of consumer rights, and high-quality growth, among others.
In terms of specific contents of the Report, Chapter 1 (External Environment) elaborates on the impact of the market status quo on consumer finance companies, following an overview of the macro economy, the financial environment, and the overall industry landscape; Chapter 2 (Policy Environment) summarizes government policies and regulatory requirements for consumer finance practices in China, with special focus on such key regulation issues as personal information protection and the protection of financial consumers' rights; Chapter 3 (Business Development) reviews the annual trends of business development of consumer finance companies in respect of consumer credit service, financing operations, benefits and risks, etc.; Chapter 4 (Development Features) identifies the business highlights of consumer finance companies in 2021, such as their dedication to inclusive finance, the real economy, and fintech enhancement; Chapter 5 (Social Responsibility) demonstrates CSR actions taken by consumer finance companies to uphold the CPC's leadership, safeguard consumers' rights, care for people's wellbeing and employees' personal growth, among others; Chapter 6 (Outlook) explores the future development prospect and strategies of consumer finance companies.
