中国将保护消费金融产品
Chinese consumers of financial products are to get better legal protection, according to an official document released on Friday.
周五发布的一份官方文件显示，中国消费者购买的金融产品将会得到更好的法律保护。
Protecting buyers of stocks, mutual funds, insurance and other wealth management products will raise consumer confidence, help financial stability and defend social justice, according to a guideline from the State Council, China's cabinet.
Financial institutions must fully respect consumers' independent choices and their right to know. Customer data must be kept secure and compensation must be paid in the event of wrongdoing.
Financial products will be rated by risk and complexity and according to customers preferences, perception and risk tolerance. Simple language must be used when disclosing information that may affect customers decisions and when explaining risks.
Laws and regulations will be amended to protect investors, with better market supervision and fairer competition.