China Real Estate Network News (Yachen/Text) On March 14, the official website of the China Banking and Insurance Regulatory Commission issued the "Risk Tips on Beware of Excessive Lending and Marketing Induction" (hereinafter referred to as the "Tips") to remind consumers to stay away from excessive lending. Lending marketing traps to prevent excessive credit risks.

For those involving inducing consumers to use consumer loans in non-consumption areas, the "Tips" pointed out that some consumers are induced or tacitly allowed to use credit cards, microfinance and other consumer credit funds in non-consumption areas, such as Buying a house, stock trading, financial management, repaying other loans, etc. have disrupted the normal order of the financial market. Consumers who illegally transfer funds obtained from consumer credit to non-consumption areas will eventually have to bear corresponding consequences. "Using loans to support loans" and "using cards to support cards" are not advisable.

The Consumer Rights Protection Bureau of the China Banking and Insurance Regulatory Commission reminds consumers to understand the relevant policies and risks of consumer credit, prevent the risk of excessive credit and overdraft consumption, improve legal awareness, and protect legitimate rights and interests. Establish a sense of responsible lending, avoid uncontrolled excessive consumption and excessive debt, and choose formal institutions to provide loans and other financial services. Be wary of methods such as lowering loan thresholds and concealing actual interest rates in loan marketing promotions. In particular, it is necessary to raise awareness of risk prevention, not to believe false propaganda about illegal online lending, and to stay away from predatory loans such as bad campus loans and routine loans. Do not use consumer credit funds such as credit cards and micro loans for non-consumption areas such as purchasing real estate, stock trading, financial management, and repaying other loans.