Chongqing launches prepaid consumption supervision platform

14 banks and businesses sign a proposal to promote the use of the Yufu Code at the launch event for the prepaid consumption supervision platform in Liangjiang New Area. [Photo/liangjiang.gov.cn]

On March 16, Liangjiang New Area in Southwest China's Chongqing municipality held a launch event for its prepaid consumption supervision platform, which is the first of its kind in Chongqing.

Xu Hongqiu, deputy secretary of the Chongqing Liangjiang New Area Party Work Committee and vice-director of the Chongqing Liangjiang New Area Administrative Committee, stated in his address that the new area aims to continuously optimize its consumption environment. Xu also stated that the area will create a reformation atmosphere for prepaid consumption supervision that is guided by the government, led by industries, and participated in by market entities.

Xu Jun, deputy director of the Market Supervision Administration of Chongqing Municipality, expressed that relevant departments should work closely to further enhance the effectiveness of consumer rights protection. Safeguarding consumer rights should be considered a primary task in promoting consumption and serving economic development. All types of market entities should utilize this supervision platform and proactively adhere to honest operation.

During the event, representatives from 14 banks and businesses participating in the initial pilot program jointly signed a proposal to promote the use of the Yufu Code.

Each merchant can apply for the code. When scanned, this code will take consumers to the merchant's credit profile, where they can view the merchant's supervision status, credit rating, and other information. If a merchant infringes on consumer rights, consumers can use this code to lodge a complaint as well as track the complaint's processing progress.

The prepaid consumption supervision platform has been constructed across eight different scenarios, including credit commitment, fund supervision, card issuance supervision, daily supervision, complaint handling, credit supervision, collaborative services, and promotional activities.

It integrates technologies such as data, cloud computing, and blockchain, combining government public data, business consumption data, and financial regulatory service data. Business operators can apply to obtain codes online, and the application intelligently generates credit profiles with codes of different colors – gray, green, yellow, red, and black.