Legal basis: Civil Code of People's Republic of China (PRC).
Article 667 A loan contract is a contract in which the borrower borrows money from the lender, repays it at maturity and pays interest.
Article 668 A loan contract shall be in written form, unless otherwise agreed between natural persons.
The contents of a loan contract generally include terms such as loan type, currency, purpose, amount, interest rate, term and repayment method.
Article 669 When concluding a loan contract, the borrower shall provide the true information about the business activities and financial status related to the loan according to the requirements of the lender.