Chinese Authorities Issue Administrative Measures for Online Marketing of Financial Products
Published 27 April 2026
Yu Du
On 24 April 2026, the People’s Bank of China, the Ministry of Industry and Information Technology, the State Administration for Market Regulation and others, jointly issued the Administrative Measures for Online Marketing of Financial Products (Measures). The Measures aim to regulate online marketing activities of financial products, protect consumers and investors, and address emerging risks in the rapidly evolving digital finance landscape. They will come into effect on 30 September 2026.
Against this backdrop, the Measures provide a comprehensive regulatory framework for how financial products can be promoted online. The main provisions are outlined below.
Scope and Regulatory Coverage
The Measures apply to both financial institutions and third-party internet platforms engaged in the online marketing of financial products. Financial institutions must be properly licensed, while third-party platforms may only provide services within the scope of authorization granted by those institutions. Unauthorized entities or individuals are explicitly prohibited from conducting or disguising financial marketing activities. Licensing Boundaries and Prohibited Activities
All marketing activities must remain strictly within the approved business scope of financial institutions. The Measures draw a clear red line against promoting or facilitating illegal financial activities, including unauthorized deposit-taking, illegal lending, securities fraud, virtual currency trading, and unapproved cross-border financial services. Third-party platforms are not allowed to subcontract marketing services or redirect users to other marketing intermediaries; instead, they must direct users to the official platforms of financial institutions.
Standards for Marketing Content
Financial institutions are held fully accountable for the compliance and accuracy of marketing content. They are required to establish internal review and approval mechanisms, ensuring that all promotional materials are consistent with contractual terms and present key information clearly. Misleading statements, exaggerated claims, and the use of phrases such as “low risk,” “instant approval”, or “guaranteed returns” are strictly prohibited. Marketing content must also include clear disclosures on risks, fees, and the identity of the product provider.
Rules on Marketing Conduct and Digital Practices
The Measures address modern digital marketing techniques such as algorithmic recommendations, live streaming, and short-form video promotions. Platforms must not deploy algorithms that induce excessive consumption and must offer users the ability to opt out of targeted recommendations. Harassing marketing practices, including unsolicited messages or calls without opt-out options, are restricted. In addition, different categories of financial products must be displayed separately, and payment interfaces must clearly distinguish between payment tools and credit-related products.
Restrictions on Market Participants and Branding
Only licensed financial institutions and their authorized personnel are permitted to conduct marketing activities. Non-financial institutions or unqualified individuals are prohibited from promoting financial products, particularly through social media channels. The Measures also restrict the use of financial-related terms in app names, account names, and trademarks unless the entity holds the qualifications, thereby reducing the risk of misleading consumers about the nature of the business.
Cooperation Between Financial Institutions and Platforms
The Measures clearly define the boundary between financial institutions and third-party platforms. Platforms are limited to providing technical and promotional support and are prohibited from participating in core financial functions such as contract execution, fund transfers, or suitability assessments. Financial institutions are required to conduct due diligence before engaging platforms, formalize cooperation through written agreements, and continuously monitor compliance. Importantly, outsourcing marketing does not reduce the liability of financial institutions for their products.
Supervision and Enforcement Framework
Regulatory oversight will be carried out jointly by multiple authorities through inspections, monitoring, and enforcement actions. Violations may result in corrective measures, administrative penalties, or even criminal liability. The Measures emphasize coordinated supervision across financial, market, and cybersecurity regulators to ensure comprehensive enforcement.
Comment
In practical terms, these Measures are about bringing discipline to a fast-growing but uneven market. For consumers, this should translate into clearer information and fewer misleading claims when choosing financial products. For internet platforms, the rules draw a firm boundary - they can assist with promotion but cannot act as quasi-financial institutions. Overall, the Measures signal a shift toward a more structured and accountable digital financial ecosystem, even if it tempers some of the more aggressive growth tactics seen in recent years.
Against this backdrop, the Measures provide a comprehensive regulatory framework for how financial products can be promoted online. The main provisions are outlined below.
Scope and Regulatory Coverage
The Measures apply to both financial institutions and third-party internet platforms engaged in the online marketing of financial products. Financial institutions must be properly licensed, while third-party platforms may only provide services within the scope of authorization granted by those institutions. Unauthorized entities or individuals are explicitly prohibited from conducting or disguising financial marketing activities. Licensing Boundaries and Prohibited Activities
All marketing activities must remain strictly within the approved business scope of financial institutions. The Measures draw a clear red line against promoting or facilitating illegal financial activities, including unauthorized deposit-taking, illegal lending, securities fraud, virtual currency trading, and unapproved cross-border financial services. Third-party platforms are not allowed to subcontract marketing services or redirect users to other marketing intermediaries; instead, they must direct users to the official platforms of financial institutions.
Standards for Marketing Content
Financial institutions are held fully accountable for the compliance and accuracy of marketing content. They are required to establish internal review and approval mechanisms, ensuring that all promotional materials are consistent with contractual terms and present key information clearly. Misleading statements, exaggerated claims, and the use of phrases such as “low risk,” “instant approval”, or “guaranteed returns” are strictly prohibited. Marketing content must also include clear disclosures on risks, fees, and the identity of the product provider.
Rules on Marketing Conduct and Digital Practices
The Measures address modern digital marketing techniques such as algorithmic recommendations, live streaming, and short-form video promotions. Platforms must not deploy algorithms that induce excessive consumption and must offer users the ability to opt out of targeted recommendations. Harassing marketing practices, including unsolicited messages or calls without opt-out options, are restricted. In addition, different categories of financial products must be displayed separately, and payment interfaces must clearly distinguish between payment tools and credit-related products.
Restrictions on Market Participants and Branding
Only licensed financial institutions and their authorized personnel are permitted to conduct marketing activities. Non-financial institutions or unqualified individuals are prohibited from promoting financial products, particularly through social media channels. The Measures also restrict the use of financial-related terms in app names, account names, and trademarks unless the entity holds the qualifications, thereby reducing the risk of misleading consumers about the nature of the business.
Cooperation Between Financial Institutions and Platforms
The Measures clearly define the boundary between financial institutions and third-party platforms. Platforms are limited to providing technical and promotional support and are prohibited from participating in core financial functions such as contract execution, fund transfers, or suitability assessments. Financial institutions are required to conduct due diligence before engaging platforms, formalize cooperation through written agreements, and continuously monitor compliance. Importantly, outsourcing marketing does not reduce the liability of financial institutions for their products.
Supervision and Enforcement Framework
Regulatory oversight will be carried out jointly by multiple authorities through inspections, monitoring, and enforcement actions. Violations may result in corrective measures, administrative penalties, or even criminal liability. The Measures emphasize coordinated supervision across financial, market, and cybersecurity regulators to ensure comprehensive enforcement.
Comment
In practical terms, these Measures are about bringing discipline to a fast-growing but uneven market. For consumers, this should translate into clearer information and fewer misleading claims when choosing financial products. For internet platforms, the rules draw a firm boundary - they can assist with promotion but cannot act as quasi-financial institutions. Overall, the Measures signal a shift toward a more structured and accountable digital financial ecosystem, even if it tempers some of the more aggressive growth tactics seen in recent years.