New Regulatory Framework Targets Online Financial Marketing

A coalition of eight major Chinese regulatory bodies, spearheaded by the People's Bank of China, has introduced the "Administrative Measures for Online Marketing of Financial Products." Set to take effect on September 30, 2026, these comprehensive rules are designed to bring order to the rapidly evolving landscape of digital financial promotion, establishing firm boundaries for compliant operations.

Strict Licensing and Explicit Prohibitions on High-Risk Activities

The Measures significantly tighten market access. Only officially licensed financial institutions, along with their proprietary platforms or authorized third-party internet partners, will be permitted to conduct online marketing for financial products. A core provision of the new rules is the outright ban on promotional services for specific high-risk and unauthorized financial schemes.

  • Banned Promotional Areas: The regulations explicitly forbid providing marketing services for illegal fundraising, activities involving the issuance and trading of virtual currencies, and unauthorized foreign exchange margin trading.
  • Safeguarding Investors: This move aims to curb risks at the source by eliminating promotional channels for such activities, thereby protecting consumers from misleading information and potential fraud.

Comprehensive Operational Guidelines and Enhanced Enforcement

Beyond setting prohibitions, the Measures lay out detailed operational requirements for every aspect of online marketing, creating a multi-layered compliance framework.

  • Content and Transparency: Marketing materials must be truthful and accurate, accompanied by clear and prominent risk disclosures to ensure informed consumer decision-making.
  • Advertising and Algorithmic Controls: Rules govern pop-up advertisements and push frequencies, with additional compliance mandates for algorithmic recommendation systems to prevent the spread of misleading content.
  • Branding and Data Protection: Strict guidelines govern platform and account naming conventions to prevent misuse of terminology. The rules also strengthen obligations regarding partnership models and the protection of user personal data and privacy.

The Measures clearly delineate the supervisory responsibilities and collaborative roles of authorities including the PBOC, the Cyberspace Administration, the Ministry of Industry and Information Technology, and the State Administration for Market Regulation. Coupled with defined inspection powers and penalty mechanisms, this establishes a robust enforcement system to ensure the rules are effectively implemented.