BEIJING, March 31 (Reuters) – China’s central bank asked financial institutions on Wednesday to clearly disclose annualised interest rates for all loan products, in order to enhance consumer protection.
The notice also asked other entities – including deposit-taking institutions, auto loan companies, consumer finance companies, micro loan firms, as well as internet platforms that advertise loan products – to disclose these rates.
Reporting by Cheng Leng and Gabriel Crossley; Editing by Andrew Heavens
