The People's Bank of China, along with seven other departments, has issued new regulations governing the online marketing of financial products. The guidelines prohibit any organization or individual from providing online marketing services or facilitating illegal financial activities. These activities include illegal fundraising, unauthorized securities and futures activities, illegal deposit-taking, illegal lending, virtual currency issuance and trading, and unauthorized foreign exchange margin trading. Additionally, foreign institutions are barred from offering financial products to Chinese residents without proper authorization.
Financial institutions are also restricted from conducting online marketing of private equity products and over-the-counter derivatives to unspecified audiences. The regulations further prohibit the use of third-party internet platforms for marketing these products, aiming to curb potential risks associated with unregulated financial promotions.
China Tightens Regulations on Online Marketing of Financial Products
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