China’s draft Financial Law gets second reading, adds investor protection rules

The second reading matters less for the investor-protection language itself than for what it signals about the law's trajectory: a draft reaching this stage is moving toward adoption, and the addition of internet-marketing rules shows regulators intend the framework to reach distribution channels, not just licensed institutions. That puts platforms and online promoters of financial products in scope alongside traditional sellers. The open question is how the consumer-protection provisions are worded in final form, since that determines whether they bind marketing intermediaries or only formal issuers.