Guangdong: Encourage financial institutions to increase the issuance of personal consumption loans under the premise of manageable risks.

The General Office of the People's Government of Guangdong Province issued the "Implementation Plan for the Special Action to Boost Consumption in Guangdong Province", proposing to strengthen credit support. Encourage financial institutions to increase the issuance of personal consumption loans under the premise of controllable risks, appropriately raise loan amounts for customers with good credit, large or long-term consumption needs, extend loan terms, and set loan interest rates reasonably. Support financial institutions to optimize the repayment methods of personal consumption loans based on market-oriented and legal principles, carry out renewal loan work in an orderly manner, encourage commercial banks to calculate interest on credit cards based on actual residual balances, optimize tolerance and service provision for credit card holders of small credit limits and short overdue periods, prompt timely repayment notifications, and refrain from immediately recording them as bad credit. Encourage banking financial institutions to innovate consumer financial products suitable for new consumption patterns such as e-commerce and consumption demands in areas like health, education, and digital services. Encourage financial institutions to increase credit support for small and micro enterprises in the accommodation, catering, and other consumption sectors under the premise of controllable risks.