In the future, under the premise of not illegally absorbing deposits and lending rates not exceeding four times the benchmark rate, individuals will be able to legally register to engage in lending activities. Yesterday, Liu Ping, deputy director of the Research Bureau of the People's Bank of China, revealed at the CEO Roundtable Meeting of Transnational Corporations that the draft of the "Lender Regulations" drawn up by the central bank had been submitted to the Legislative Affairs Office of the State Council, and private lending would hopefully gain regulation through national legislation.
The business of pawnshops along the coast is booming. "The savings of Chinese residents have reached 20 trillion yuan, and the country's foreign exchange reserves are 1.9 trillion yuan," said Liu Ping,...