A Study On The Improvement Of Consumer Finance Laws In China

In as early as the 1990s,the sprout of consumer finance had emerged in China's financial sector.But it had been in a slow state of development,until the Consumer Finance Corporation Pilot Management Measures was introduced in 2009,kicking start the rapid development of China's consumer finance sector.As a new type of Chinese financial activities emerging in the 21st century,consumer finance provides people with more flexible and convenient personal credit services for daily consumption activities.The article focuses on the consumer finance laws in China and is divided into four parts.First,the article explains the basic theoretical issues of the consumer finance laws in China,and illustrate the adjustment objects,basic principles,and value of the consumer finance laws in China;Second,the article analyzes the status quo and major issues related to the consumer finance laws in China,and specifies that there are currently no laws in the consumer finance sector,and there are only government regulations,the level of which is relatively low.In addition,there is a lack of rules regulating the entrance and withdrawal standards for consumer finance,the business scope,and the rights and obligations.The lack of credit information,information disclosure systems,and the related infrastructures,as well as insufficient supervision and penalties have negative impacts on the healthy development of consumer finance;Third,the article summarizes the experience relating to consumer finance laws that can be learned from developed countries,through a study of the development of consumer finance and the related legislation in the United States and Japan;Finally,the article proposes a combination of measures on the improvement of the consumer finance laws in China,including the establishment and improvement of the consumer finance laws in China,the refinement of the specific legal provisions,the clarification of the standard.