IDEAS home Printed from https://ideas.repec.org/h/spr/advbcp/978-94-6463-142-5_89.html

Research and Development Proposals on Consumer Protection Mechanisms

In: Proceedings of the 8th International Conference on Financial Innovation and Economic Development (ICFIED 2023)

Author

Listed:
  • Yanlu Xie

    (Jinqiao College of Kunming University of Technology)

Abstract

While the term consumer is now well known, and the rights and interests of consumers are playing an increasingly important role, the concept of financial consumer is still relatively unknown in China, and its first official appearance in a public document issued by a government department was in the “Guidelines on Financial Innovation for Commercial Financial Institutions” published by the CBRC in 2006, this includes the topics “Financial innovation needs to better meet the needs of financial consumers” and “Safeguarding the interests of financial consumers”. The document that formally defines the concept of financial consumer can be traced back to the “Administrative Measures for the Protection of Financial Consumer Rights and Interests” issued in 2013, which states in its General Provisions that: “Financial consumers are natural persons who purchase or use financial products sold by financial institutions or receive financial services provided by financial institutions in the People's Republic of China.“ The definition was later simplified in the “Implementation Measures for the Protection of the Rights and Interests of Financial Consumers of the People's Bank of China” issued by the Central Bank in 2016 to read: “A financial consumer is a natural person who purchases and uses financial products and services provided by a financial institution”, and this definition has not been changed again in subsequent relevant policies.

Suggested Citation

  • Yanlu Xie, 2023. "Research and Development Proposals on Consumer Protection Mechanisms," Advances in Economics, Business and Management Research, in: Yushi Jiang & Guangming Li & Wilson Xinbao Li (ed.), Proceedings of the 8th International Conference on Financial Innovation and Economic Development (ICFIED 2023), pages 785-791, Springer.
    • Handle: RePEc:spr:advbcp:978-94-6463-142-5_89
    DOI: 10.2991/978-94-6463-142-5_89
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a
    for a similarly titled item that would be available.

    More about this item

    Keywords

    ;
    ;
    ;

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:spr:advbcp:978-94-6463-142-5_89. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.