CCA Holds a Symposium on Consumer Protection in Banking Services
—— 2016-03-14 ——

CCA held a Symposium on Improving Consumer Rights Protection Concerning Banking Services on April 17th. Representatives from PBC, CBRC, China Banking Association and 16 certified commercial banks as well as financial experts attended the symposium.

An official from CCA reported the results from the 2014 Survey on Customer Satisfaction and Indicator Assessment in Banking Sector at the symposium, and briefed about the issues to be improved concerning services at banking outlets, geographical layout of bank branches, fee standards etc. As reported, CCA launched the survey which lasted from December 2014 to March 2015 with the purpose of enhancing public oversight of banking services and further improving the service capacities and standards in banking sector. The survey assessed 16 major domestic commercial banks and obtained 8,199 valid samples.

According to the results, customer satisfaction in banking sector nationwide was scored 80.38 points (out of 100), up by 10.39 points from 2009. Bank of Beijing, Minsheng Bank and Huaxia Bank obtained a higher score in terms of customer satisfaction; Minsheng Bank, Industrial Bank and Bank of Communications obtained a higher score of customer loyalty, and Bank of China, Bank of Beijing and Bank of Construction obtained a higher score of brand image.

Executives from banking regulatory departments and industrial associations, relevant experts and corporate representatives also provided pertinent comments and suggestions on how to further improve consumer rights protection concerning banking services based on the survey results.

Chang Yu, Secretary General of CCA, remarked in his summary speech that banking enterprises shall keep enhancing service awareness in all aspects and improving service quality while centering around the implementation of the Law on Protection of Consumers Rights and Interests so as to provide better and high quality services for consumers by optimizing service procedures, innovating services and products and optimizing internal control mechanisms. He hoped that banking sector shall reinforce industrial self-discipline across the board, and banking enterprises shall be urged to operate in good faith and in a lawful manner and voluntarily observe their social responsibilities of protecting the rights and interests of consumers. He also called for banking regulatory departments to make more efforts in administering the fees and charges collected by commercial banks and enforce heavier punishment of any act of fee collection without proper reasons or against the rules or unfair competition to create a safe and trustworthy financial and consumption environment for consumers.

It is reported that CCA has engaged in regulatory talks with relevant banking enterprises in terms of the issues identified in the survey. The entities expressed their determination to develop and take effective measures based on the survey results and by studying the issues reflected by consumers in order to continue improving the service quality and management standards, provide safe, easy and efficient banking services for consumers and improve consumer satisfaction towards banking services.