Law of Protection of the Rights and Interests of the Consumers

China

(enacted in 1993)

The law protects the rights of consumers who consume for the need of living. Therefore, rights of financial consumers can be partly protected under this law.

This law is organized in eight chapters:

Chapter I General Provisions

Chapter II Rights of the Consumers (Microfinance related)

Rights of the consumers are defined as:right of the personal and property safety, right to demand the commodities or services provided by the operators accord with the requirements, right to know the true situation, right to choose, right of fair dealings, right to seek compensation in case of injury or damage.

Chapter III Obligations of the Operators

Chapter IV State Protection on Consumers’ Lawful Rights and Interests

Chapter V Consumers’ Organizations

Chapter VI Settlement of Disputes

Chapter VII Legal Responsibility

Chapter VIII Supplementary Provisions