China Banking and Insurance Regulatory Commission and People's Bank of China, Tentative Measures for the Administration of Online Petty Loan Business (Draft for Comments)

Applicability: For the purposes of these Measures, the term "online petty loan business" means petty loan business wherein a microfinance company employs technical means such as big data, cloud computing and mobile internet, and uses internally generated data and information on client operations, online consumption, online transactions, etc. accumulated on an internet platform and other data and information obtained through legal means to analyze and assess the credit risk of borrowing clients, determine loan methods and limits, and complete online procedures such as loan application, risk assessment, loan approval, loan extension and loan recovery (Article 2).