Chinese regulators urge six travel platforms to strengthen loan disclosures, address complaints

BEIJING, Feb. 13 (Xinhua) -- Chinese financial and market regulators have urged six major travel platforms to address irregularities in their consumer lending partnerships, calling for greater transparency and improved complaint handling.

The National Financial Regulatory Administration, the State Administration for Market Regulation and the People's Bank of China have held talks with Trip.com, Amap, Tongcheng Travel, Fliggy, Umetrip and Qunar, according to an official statement on Friday.

The regulators identified irregularities in how these platforms cooperate with financial institutions to offer loan products. They ordered the companies to regulate marketing practices strictly, and to refrain from using misleading language.

Platforms must now clearly disclose the names of lending institutions and detailed credit product information to consumers. Borrowers should be explicitly reminded to borrow rationally.

Additionally, the companies were instructed to maintain smooth customer complaint channels, address consumer disputes promptly and properly, and continuously enhance the quality of their services to protect the legitimate rights and interests of consumers. ■