The China Banking Regulatory Commission, together with the People's Bank of China and other departments, drafted the Interim Measures for the Administration of Online Microfinance Business (Draft for Comment), clarifying that online microfinance business should be mainly carried out in the provincial administrative region where it is registered, and it is not allowed to carry out online microfinance business across provincial administrative regions without the approval of the CBRC.

Regarding the new rules of online lending, the requirements for later loans have also been raised to a new height. Overdue online loans will be included in the central bank's personal credit information system. If we don't pay them back all the time, the credit information will remain in our overdue records every month, which will have a great impact on our future loans.