Number of complaints against China's banking sector hits 69,555 in Q4 2022

BEIJING - The number of consumer complaints received by the China Banking and Insurance Regulatory Commission and its local bureaus stood at 69,555 in the fourth quarter (Q4) of 2022.

The number of cases involving credit card service reached 29,981 in the period, accounting for 43.1 percent of the total, while registered cases involving personal loan businesses hit 28,545, the commission said on Tuesday.

In Q4 2022, the commission and its local bureaus received 22,189 consumer complaints against China's insurance companies, while cases related to life insurers totaled 14,500.

The commission vowed to better handle these complaints and provide improved services in a bid to protect the legitimate rights and interests of consumers.