Shenzhen plans to introduce new regulations on pre-paid consumption, setting up a "7-day cooling-off period".

The Shenzhen Judicial Bureau recently released the "Regulations on Prepaid Business Management in Shenzhen Special Economic Zone." The document states that consumers have the right to request a refund from the operator if they have not received the goods or services within seven days of paying the prepaid amount and have not received the same goods or services before. The operator should refund the prepaid amount in full within ten days after the consumer requests a refund. This means that in the future, consumers in Shenzhen will have a legal "cooling-off period" when making prepaid purchases. Whether it is impulsive credit card application or changing their minds after payment, consumers can exercise the "right to regret" within seven days, thereby significantly reducing the risk of financial loss caused by information asymmetry or impulsive decisions. The draft also specifies that any gifts or services received by consumers for paying prepaid amounts should be returned or paid a reasonable price.