Cong Lin, Deputy Director of the National Financial Regulatory Administration: Will Vigorously Rectify "Price Wars" and Illegal Rebates in the Financial Industry
Cong Lin, Deputy Director of the National Financial Regulatory Administration, stated at a press conference held by the State Council Information Office on September 10 that during the "15th Five-Year Plan" period, the administration will comprehensively advance risk prevention, strengthen supervision, and promote high-quality development. He emphasized the importance of prudently advancing risk prevention and control in key areas, effectively and orderly mitigating risks in local small and medium-sized financial institutions, and firmly holding the bottom line against "thunderstorms." Cong Lin also stated that the National Financial Regulatory Administration will comprehensively strengthen "five major supervisions," resolutely ensure "long teeth and sharp edges," and take multiple measures to foster a sound industry ecosystem. This includes vigorously addressing practices such as "price wars," illegal rebates, and "high interest and high returns," thereby guiding financial institutions to shift from pursuing speed and scale to focusing on quality and efficiency.
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Source:华尔街见闻 · Source Link
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