Credit for Consumption and Consumer Rights Protection in China

Yixian Zhao

In view of the economic growth in China and the increase in the people’s salary levels, and as a result of pompous development of cyber consumption that has been observed in recent years, the ordinary consumer tends increasingly to turn to financial products and services, from traditional means such as bank loans, to new cyber tools such as overdraft in online shopping. The legal framework in China, however, does not offer specific mechanisms to protect the rights and interests of financial consumers, being almost silent in particular on the issue of excessive lending to ordinary customers by financial institutions in the use of powers and benefits attached to them.