According to the China Internet Finance Association, on November 6, the third meeting of the Preparatory Group of the China Internet Finance Association's Internet Loan Self-Regulatory Working Committee was held in Beijing. The Association Secretariat presided over the meeting, and members of the preparatory team such as Du Xiaoman, Ant Technology, Tencent, JD Technology, and Douyin attended the meeting. The meeting reviewed and approved the preparatory work report and agreed to submit the establishment of a working committee in accordance with the procedures. According to the conference, since its establishment, the preparatory team has focused on the Internet loan aid business area, closely followed industry developments, further promoted policy implementation, studied and submitted several special reports on hot and cutting-edge issues, organized and carried out special audits on the risk of misappropriation of credit funds, and led the standardized and healthy development of loan aid platforms with high standards and strict requirements. The conference emphasized that the working committee is a mechanism guarantee for organizing and implementing self-regulatory management of loan aid platforms. Member units should have a strong will to comply and a high level of compliance. They must strictly control entry and steadily advance the selection process of member units in accordance with higher standards and requirements; at the same time, strengthen self-regulatory management of member units through information reporting, self-regulatory inspections, special audits, and annual evaluations.

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