2026 Lujiazui Financial Salon | Sixth Roundtable Discussion: Multi-party Collaboration to Build a New Ecosystem for Financial Consumer Rights Protection

The attending guests held in-depth discussions on topics including resolving financial consumer disputes 【Download the Black Cat Complaint app】, and advancing front-end prevention for protecting consumer rights and interests.

On March 21, the “Lujiazui Financial Salon” 2026, 6th session, wrapped up successfully. During the industry roundtable discussion session, five attending guests held in-depth discussions around issues such as resolving financial consumer disputes, implementing front-end prevention to protect consumer rights and interests, practical applications enabled by technology, and jointly building an industry ecosystem. They offered advice on high-quality development of work to protect the rights and interests of financial consumers under the new situation.

This discussion was hosted by Huang Jinqiang, Deputy Party Secretary of the Party Committee of the Credit Card Center of the Agricultural Bank of China and Vice President, and the four roundtable guests were Lu Xiang, Director of the Shanghai Financial Consumer Dispute Mediation Center; Liu Yi, Deputy General Manager of the Shanghai Branch of Ping An Life Insurance Company of China, Ltd.; Chen Chen, Vice President of Jiezhi Auto Finance Co., Ltd.; and Wang Yu, General Manager of the Personal Banking/Consumer Protection/Asset Growth Department of the Bank of Shanghai (Shanghai City Commercial Banks Association Financial Consumer Protection Special Committee—leading unit).

Based on the Shanghai Financial Consumer Dispute Mediation Center’s 11 years of handling practice, Lu Xiang said directly that the most important reason for current financial consumer disputes is the lack of fit for consumers.

“When the needs of financial consumers do not match their risk identification and risk-bearing capacity, contradictions and disputes are likely to arise.” Taking loan business as an example, Lu Xiang said that consumers’ lack of understanding of loan amounts, product types, and their own repayment ability is the core root cause of disputes occurring later. The direction the mediation center has long explored is how to provide professional support to consumers whose financial knowledge level is relatively weak.

Regarding the pain points in consumer protection work, Lu Xiang said that the biggest challenge today is insufficient social awareness of mediation services. “Although our mediation work has been carried out for more than ten years, consumers still do not know much about mediation for financial consumer disputes, and for a long time there has been a fixed mindset that only complaints can solve problems.”

Lu Xiang said that as a public-welfare institution, the mediation center can provide free dispute mediation and financial consulting services for consumers. It urgently needs financial institutions and the media to work together to publicize, so that mediation becomes the first choice for consumers to resolve disputes.

In response to industry trends characterized by diversified and increasingly complex complaint types, Lu Xiang introduced that the mediation center has built a full-chain consumer protection service system of “front-end prevention + back-end handling.”

In resolving complaints in the insurance sector, Ping An Life has, through technological means and mechanism innovation, explored an intelligent, end-to-end solution for resolving complaints and disputes.

Liu Yi said that Ping An Life has deployed three core capabilities in the field of resolving disputes through technology. First is intelligent early warning: it integrates data from 14 core business touchpoints across the full customer lifecycle, including calls, APP operations, and policy servicing and preservation, to identify high-risk behaviors in advance and implement front-end intervention. Second is one-click efficiency improvement: using AI to realize intelligent processing across the full workflow of complaint case reports and review, improving complaint handling efficiency by nearly 50%, and achieving 100% AI coverage for case review. Third is precise identification of illegal businesses: leveraging AI technology to precisely identify illegal business voices and formatted letters, helping crack down on financial black industry activities.

On building a long-term dispute-resolution mechanism, Liu Yi said that Ping An Life continues to make efforts from three major dimensions.

First, institutional guarantees: integrate complaint reduction efforts into the entire process from front-end sales to customer service, and deeply link them to employee performance appraisals to ensure responsibility is assigned to individuals across all stages. Second, deepen diversified dispute-resolution mechanisms: actively connect with regulatory authorities and third-party mediation institutions for complaint cases to coordinate and resolve conflicts. Third, strengthen front-end consumer education: for example, through public welfare activities in communities, conduct anti-fraud and financial knowledge training targeted at middle-aged and elderly groups and groups that are easily victimized, reducing the probability of disputes from the source.

At the same time, regarding information sharing across the industry and risk prevention and joint control, Liu Yi shared industry collaboration and innovation practices using “retiring old policies and investing in new ones” governance as an example.

Liu Yi believes that “retiring old policies and investing in new ones” behaviors dominated by the financial black industry seriously infringe on consumers’ rights and interests. Previously, institutions could only conduct internal data checks to assess risk. In July 2024, after relevant policy measures were issued by the Shanghai Financial Regulatory Administration, the industry connected and integrated data with C-BiS and Actuaries (China Banking Information Services Technology Co., Ltd.) to achieve full-industry sharing of policy purchase information. Within 10 seconds, it is possible to verify whether there were policy surrender behaviors within 180 days before the policy was purchased. “The introduction of this policy marks an upgrade in the fight against financial black industry activities—from single-point prevention and control by institutions to industry ecosystem governance—providing strong assurance for building the industry ecosystem and protecting consumers’ rights and interests.”

Regarding risks of emerging financial fraud and illegal fund-raising that keep appearing in the auto finance sector, Chen Chen shared Jiezhi Auto Finance’s frontline practical experience.

Chen Chen said that over the past two years, illegal fund-raising and financial fraud have begun to permeate auto finance scenarios. In the sinking markets, they show new characteristics such as online-based operations, high concealment, contagion, and long-term cycles. Criminals use gimmicks such as “points for cash-back,” “repaying monthly installments on behalf,” and “low down payment and low monthly payments” to lure consumers into scams, and even see a contagion-style spread where clients recruit new customers.

Facing risk challenges under the new situation, Jiezhi Auto Finance has built a three-dimensional prevention and control system of “front-end early warning, rapid response, and legal assistance.”

Specifically, on the early-warning side, Jiezhi Auto Finance deploys defenses at the frontline using technologies such as OCR (Optical Character Recognition, optical character recognition) and voiceprint recognition to detect and issue early warnings as early as possible, aiming to intercept risks before loan disbursement. On the response side, it has set up a dedicated anti-financial-fraud team to coordinate end-to-end information across front, middle, and back offices, quickly identifying individual cases and cases involving gangs. On the legal assistance side, Jiezhi Auto Finance uses professional case-handling and investigation capabilities to reconstruct the facts of cases, providing complete evidence support for victim consumers, dealers, and judicial authorities.

At the same time, Chen Chen, combining macroeconomic conditions, technological evolution, and regulatory policy trends, provided an in-depth analysis of the opportunities and challenges currently faced by financial consumer protection work.

Chen Chen believes that at the macro level, the state includes consumer loan interest in auto finance within the scope of fiscal subsidies, allowing consumers to truly enjoy benefits. However, under macroeconomic pressure, some consumers’ repayment capacity also fluctuates, and disorderly issues have emerged, such as malicious complaints and claims by proxy. At the technology level, big data and online service models greatly improve customer experience and service efficiency, but they also provide opportunities for the black industry to forge materials and evade reviews, imposing higher requirements on institutions’ risk-control capabilities. At the regulatory level, the introduction of new rules such as the “Provisions on Disclosing the Comprehensive Financing Costs of Personal Loan Business” fundamentally standardizes industry business practices and protects consumers’ right to know.

Chen Chen said that in the future, the auto finance industry will continue to deepen technology enablement and internal system building, enhance coordination, and jointly create a healthy financial consumer protection ecosystem.

In terms of jointly building industry standards and integrating science, technology, and humanity, Wang Yu shared the practices and reflections of Bank of Shanghai’s Shanghai branch.

Wang Yu said that industry standards are a core lever for promoting standardized development of the industry and improving the quality of financial consumer services. In 2024, as the leading unit for the consumer protection special committee of the Shanghai City Commercial Banks Association, Bank of Shanghai’s Shanghai branch took the lead in promoting the creation of a group standard for upgrading the delivery of age-friendly services at bank business outlets. In December 2024, the China Banking Association formulated and officially released the “Basic Requirements for Age-Friendly Services of Banking Financial Institutions,” filling a gap in the industry.

“Publishing this group standard is just a starting point, not an endpoint,” Wang Yu said. Since 2025, guided by this standard, Shanghai’s banking industry has advanced work on reengineering outlet processes, optimizing services, and creating elderly-friendly outlets, so that the concept of “customer first” is truly implemented.

Regarding the future direction of joint development of industry standards, Wang Yu said that Bank of Shanghai’s Shanghai branch will continue to deepen in three major dimensions. First, iteratively upgrade the age-friendly service standards, optimizing evaluation indicators based on the needs of elderly customers. Second, expand the service coverage: extend services from outlet service to full-chain activities such as product design and rights protection, to build a full-lifecycle elderly financial service system. Third, strengthen industry co-building: through standard sharing, resource sharing, and sharing experiences, jointly enhance the industry’s service capabilities.

The “Lujiazui Financial Salon” is guided by the Shanghai Municipal Party Committee’s Office of Financial Affairs and the People’s Government of the Pudong New Area. The secretariat of the Lujiazui Financial Salon organizes it, and First Financial and Caixin News provide media support. This series of events will build a regular communication platform that echoes the “Lujiazui Forum,” and through mechanism-based, scenario-based, and internationalized operations, will continuously deliver “Pudong wisdom” for financial reform. It will deeply empower high-quality economic development in Pudong and fully support the core area of Shanghai’s international financial center to reach new heights.

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