Financial Regulatory Authority Meets with 5 Platform Operators; China Internet Finance Association Issues Risk Alert on OpenClaw Application | Financial Morning Briefing

| March 16, 2026, Monday |

NO.1 Central Bank: M2 Year-over-Year Growth of 9% at End of February

On March 13, the People’s Bank of China released the February financial statistics report. At the end of February, the broad money supply (M2) stood at 349.22 trillion yuan, up 9% year-over-year, unchanged from the previous month; the narrow money supply (M1) was 115.93 trillion yuan, up 5.9% year-over-year, with the growth rate 1 percentage point higher than last month. As of the end of February, RMB loans totaled 277.52 trillion yuan, up 6% year-over-year; the social financing scale was 451.4 trillion yuan, an increase of 8.2%.

Comment: Industry analysts generally believe that overall, February’s financial data was stable. As companies gradually resume work after the Spring Festival, financing demand is expected to accelerate. Coupled with the detailed implementation of policies after the National Two Sessions, and the accelerated start of major projects during the 14th Five-Year Plan, it is anticipated that supporting financing needs will steadily release, and total financial volume is likely to continue a reasonable growth trend.

NO.2 Financial Regulatory Bureau Holds Talks with 5 Platforms Regarding Internet Lending Issues

On March 13, it was reported that, in response to issues in internet lending, the Financial Regulatory Bureau recently held talks with the operating agencies of five platforms: Fenqile, Qifu Borrow, Niwo Loan, Yixianghua, and Credit Fei. The requirements for the talks included that platform operators must strictly regulate marketing and promotional activities when collaborating with financial institutions, clearly disclose interest and fee information of lending products, strictly adhere to personal information protection regulations, conduct collection activities legally and compliantly, establish effective customer complaint mechanisms, and protect the legitimate rights and interests of financial consumers.

Comment: From the content of the talks, whether it’s marketing, fee disclosure, information protection, compliant collection, or complaint mechanisms, all point towards protecting financial consumers. Past regulatory actions in consumer finance indicate that consumer protection has become a top priority in the internet lending industry.

NO.3 Caution Advised When Using “Lobster” in Financial Scenarios; China Internet Finance Association Issues Risk Reminder

On March 15, the China Internet Finance Association issued a warning via its official microblog, stating that OpenClaw (commonly known as “Lobster”) can improve work efficiency, but its default high system permissions and weak security configurations are easily exploited by attackers, becoming a breach point for stealing sensitive data or illegally controlling transactions, posing serious risks to the industry. Consumers are advised to be extremely cautious when installing OpenClaw on devices used for online banking, securities trading, payments, and other personal financial activities.

Comment: As technology advances, security vulnerabilities and cyberattack risks significantly increase. Financial institutions and users need to be aware of the potential risks brought by technological convenience and take preventive measures.

NO.4 Multiple Banks Take Action; Gold Savings May Face “Purchase Limits”

According to Securities Times, recent gold price fluctuations have increased investment risks, prompting many banks to adjust their gold savings trading rules. Both China Construction Bank and Industrial and Commercial Bank of China announced that under certain conditions, they will impose limits on gold savings purchases. Additionally, some banks have changed delivery rules for physical gold sales.

Comment: Experts point out that these measures are to address the potential systemic risks caused by extreme gold price volatility. Their risk control approach is shifting from “static defense” to “dynamic strategy,” reflecting a recalibration of the positioning of gold savings products.

NO.5 Year-Start “Capital Boost” as Small and Medium Banks Increase Capital and Expand Shareholders

According to incomplete statistics, since the beginning of the year, dozens of city and rural commercial banks such as Hubei Bank, Guangzhou Bank, and Jiujiang Bank have disclosed or completed new rounds of capital increases, with financing scales ranging from hundreds of millions to billions of yuan, mainly to strengthen core Tier 1 capital and improve risk resistance.

Comment: Regarding self-sustained “capital generation” after capital replenishment, industry experts suggest that the new capital should be precisely allocated to inclusive finance, green credit, and technology-based enterprises. Additionally, establishing a sound long-term capital replenishment mechanism through optimizing asset-liability structures and expanding intermediary businesses can enhance retained earnings accumulation.

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