Mainland China intensifies crackdown on illegal loan and deposit intermediaries

SighingCashier

2026-04-05 19:21:48

April 4, 2026

Mainland China targets illegal deposit-and-loan lending intermediaries

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According to Xinhua News Agency, on Thursday (the 2nd), the Economic Crime Investigation Bureau of the Ministry of Public Security and the Inspection Bureau of the State Administration of Financial Regulation held a video conference to jointly deploy the launch of a new round of crackdown work against clusters of illegal and criminal activities by “black and gray industries” in the financial sector, further rectifying disorder caused by illegal financial intermediaries; to highlight the focus of the crackdown, efforts will concentrate on illegal deposit-and-loan lending intermediaries, illegal online lending platforms and loan-assistance institutions, illegal insurance agency intermediaries, improper “anti-collections” intermediaries for credit cards, and others. The financial sector’s “black and gray industries …

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