Guangdong Bank Insurance Industry Issues Self-discipline Covenant to Prevent "Internal Competition"

In order to comprehensively rectify the "overlapping" competition, Guangdong has released the "Guangdong Banking Industry Anti-Unfair Competition Self-Discipline Code", proposing advocacy clauses and prohibitive clauses from eight aspects. Among them, it is mentioned that banks should adhere to rational pricing, conscientiously uphold the deposit interest rate self-discipline mechanism, determine loan rates scientifically based on risk pricing principles, and conduct bond underwriting business in accordance with laws and regulations. Strictly managing commission rebates, banks should pay actual fees based on their own operating costs and market operations, and should not use high commission rebates and other unfair competition means to seize market share.