The Lender Regulations will be promulgated soon, and the individual lending business will be legalized hopefully.

by whdxhw on 2008-11-19 21:55:18

On November 19, Zhou Dewen, the Dean of Wenzhou Management Science Research Institute and the President of Wenzhou SME Development Promotion Association, revealed to Hexun that the Lender's Regulations drafted by the People's Bank Of China (PBOC) has been reviewed by the Legal Affairs Office of the State Council, and submitted to the State Council for approval. It is expected to be launched in January 2009...