China Minsheng Bank Strengthens the Management of Fair Marketing Advertisement and Product Information Disclosure to Actively Safeguard the Legitimate Rights and Interests of Clients

China Minsheng Bank (hereinafter referred to as “the Bank”) attaches great importance to the protection of clients’ legitimate rights and interests, constantly standardizes marketing advertisement, improves product information disclosure, and effectively guarantees clients' right to be informed, right to make independent choices and right of fair trading.

In terms of marketing advertisement, the Bank constantly improves management requirements, formulates the review measures of the protection of clients’ legitimate rights and interests, and clearly requires the inclusion of the advertisement texts for products and services provided to natural person customers in the scope of clients’ legitimate rights and interests protection review. The Bank formulates a series of guidelines for clients’ legitimate rights and interests protection review regarding general marketing advertisement and specific product advertisement including financial management and insurance products. The guidelines clarify the essential review points and standards, to further improve the standardization of clients’ legitimate rights and interests protection review regarding financial marketing advertisement. Second, the Bank diligently carries out the review of clients’ legitimate rights and interests protection. Bank branches at all levels have reviewed the clients’ legitimate rights and interests protection regarding the advertisement texts of specific product and service, and identify and remind relevant risks, so as to prevent the damage on the clients’ legitimate rights and interests from the beginning. Thirdly, the Bank continuously executes regular monitoring and inspection for early warning, including online advertisement management to regularly monitor the sales promotion content through callings, messages and WeChat marketing platform. The Bank inspects the advertisement through marketing process archives including the clients’ legitimate rights and interests protection review materials, audio and video recordings of branches, security videos, and telephone recordings. The Bank also conducts inspections through on-site investigations and unannounced visits. Any non-compliant advertisement or marketing text found will be rectified timely under supervision.

In terms of fair product information disclosure, the Bank refines product information disclosure management requirements, formulates a number of fair product information disclosure management policies covering the whole process before, during and after sale, regarding the information disclosure of the nature of products and services, fees, and main terms of contracts. Second, the Bank optimizes the product information query platform on the official website, setting the query entrance apparently in the customer service zone on the home page of the official website. The list of all products will be displayed after entering the corresponding product categories. Clients can click the link of Product summary to view the product documents, which enable clients to retrieve various product information with more convenience.