The National Internet Finance Association of China (NIFA) held the third meeting of the preparatory group for its Internet Loan Self-Discipline Working Committee in Beijing on November 6. Representatives from Du Xiaoman, Ant Group, Tencent, JD Technology, and Douyin attended the session.
The committee approved a preparatory report and initiated the formal process to establish the working group. The group focuses on internet-based loan facilitation, monitoring industry trends, and ensuring policy implementation. Recent actions included conducting special audits on the misuse of credit funds.
The committee will serve as a mechanism for self-regulation among loan platforms. Members are required to maintain high compliance standards. The organization plans to manage members through regular information reporting, self-discipline inspections, and annual evaluations.
During the meeting, members reported on the implementation of initiatives aimed at promoting healthy industry development. The committee intends to summarize these efforts and publish a collection of case studies. Participants also reviewed research reports regarding loan terminology and customer analysis.
