Policy Digest

Authorities urged to tackle floods in north

The General Office of the State Flood Control and Drought Relief Headquarters and the Ministry of Emergency Management recently held a joint video conference asking flood and drought control authorities to do their best to tackle the flooding that tends to affect the northern region of the country every July and August.

Authorities must be prepared to combat any potential flooding, produce more frequent weather forecasts and focus on enabling the sharing of alerts between the upper and lower reaches of a river, as well as between different regions, they announced during the conference, according to an online statement.

Authorities must also strengthen precautions against the risk of flooding in small rivers and reservoirs, endeavor to avoid geological disasters and prevent urban waterlogging, and take measures to evacuate people from danger zones resulting from heavy rainfall.

Together with the National Food and Strategic Reserves Administration, the body in charge of national food security－the general office and the ministry sent five high-flow drainage pumps to Shaanxi province, a major agricultural region, on Friday to help control floods.

The office has also dispatched two work units and one expert team to help Shanxi and Heilongjiang provinces guard against flooding.

Notice aims to better regulate online lending

The China Banking and Insurance Regulatory Commission has issued a notice on the better regulation of online lending by commercial banks.

The notice, released on the commission's website on Friday, asked commercial banks to improve the quality of online lending services and better fulfill their responsibilities as lenders.

These services must be improved to better help market entities tackle financial challenges and lower financing costs for companies, according to the statement.

Banks should also undergo careful digitization, develop more online lending products, respond more efficiently to loan applicants and optimize the lending process, the commission said.

They should also strengthen risk management, as well as investigative practices and identity verification, in addition to methods for approving credit.

The commission added that banks must strictly adhere to the requirements of financial authorities in fighting money laundering, and take effective measures to monitor the use of online loans to prevent embezzlement by business partners.

Gold and silver foil, dust cannot be added to food

Gold and silver foil and dust are not food additives and cannot be used as ingredients, according to a regulation issued by the State Administration for Market Regulation and three other departments.

Food producers are not allowed to purchase or use these items in their products, and food sellers must not purchase or sell food that contains such ingredients.

Furthermore, food and beverage service providers must not make or sell meals that contain gold or silver foil or dust. Importers are also prohibited from importing any products that contain such ingredients, nor are they allowed to import foil or dust intended as food additives.

Third-party online platforms are required to check on food products sold through their channels and ban the promotion or sale of any food containing gold or silver foil or dust. They are further required to report any such products found to market regulation authorities.