Chinese regulators summon six travel platforms over consumer lending practices
- Country:
- China
China's financial and market regulators, together with the central bank, held regulatory meetings with six Chinese travel platforms over their lending practices with financial institutions, the financial regulator said in a statement on Friday.
The firms summoned were Ctrip, Amap, LY.COM , Alibaba's travel platform Fliggy, Umetrip and Qunar, the statement showed, adding the meeting happened recently.
The regulators warned the companies to standardize marketing activities to clearly disclose lending institutions and product details and better protect customers' rights.
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