The money lending industry has a long history in Hong Kong, my country。According to the definition of Hong Kong’s Money Lenders Ordinance，A moneylender is any person who engages in the business of moneylending or advertises that he is engaged in such business.。As of the end of November 2010，There are 624 licensed money lenders in Hong Kong。
Hong Kong money lenders do not accept deposits from the public，Only engaged in money lending business，Mainly includes personal and business credit、mortgage、lease、Credit card financing、promissory note discount、Small and medium enterprise loans、mortgage loan、Syndicated loans, etc.。Special legislation for money lending institutions: Hong Kong promulgated the Money Lenders Ordinance in December 1980，The regulations are divided into five parts，The main contents include：A license is required to operate money lending business in Hong Kong。
In accordance with the provisions of the Money Lenders Ordinance，Anyone operating a money lending business in Hong Kong must obtain a money lender's license，License management is handled by the Government Companies Registry。Because money lending is a special industry，Therefore, the registration office will transfer the application to the Police Department (Police Station) for background check.，The police play a decisive role in issuance of license plates。The license is valid for 12 months，The license must be renewed when it expires。
The Money Lenders Ordinance stipulates，Unlicensed money lending business，will be fined or even imprisoned，Loans made by unlicensed moneylenders are not protected by law。Interest rate limits for two-tier architecture。It is legal for moneylenders to offer loan interest rates below 48%，More than 60% is illegal，48%~60% is it legal?，It depends on the judge's judgment。Therefore, in order to avoid getting into lawsuits, Hong Kong’s commercial banks and money lenders，Loan interest rates are lower than 48%。
The two-tier interest rate structure (48% and 60%) that prohibits lending money at excessively high interest rates was determined with reference to Hong Kong’s business practices at the time and the laws of other countries (such as the United Kingdom)。Requirements for advertising by moneylenders。Any advertisement by a money lending agency must display the name of the money lender as stated in the license，Must state the annual interest rate proposed to be charged。Registry and police investigative powers。
Registrar or police officer of the rank of Superintendent and above，If there is a reasonable suspicion that a moneylender has committed an offense，then have the right to enter the moneylender's place of business，Check the money lender’s license、accounts、Documents and other related information。Prohibition of improper debt collection。The Hong Kong government is very concerned about the harassment caused to citizens by bad debt collection practices，Through measures such as strengthening law enforcement and close supervision of debt collection practices by various regulatory agencies，Actively prevent and combat such behavior。
Self-regulatory organizations and self-regulatory rules The Hong Kong Licensed Money Lenders Association is the peer organization of the money lending industry，Founded in December 1999，There are more than 30 members。
Guild responsibilities include：Safeguard and protect the overall interests of licensed money lenders，Develop industry business operating codes；Encourage mutual exchange and cooperation among fellow moneylenders，Improve and promote business ethics and self-discipline among moneylenders；Lobby the government and relevant agencies on money lending industry matters within the framework of existing laws and the Money Lenders Ordinance、consultation，The goal is to strive to become a credible and influential、authoritative representative and advisory bodies，Improve the social status of the money lending industry。
The Hong Kong Money Lenders Association has strict membership requirements，Only companies with clear backgrounds，to become a member。2002Year，The Hong Kong Licensed Money Lenders Association issued self-regulatory business operation guidelines - "Code of Practice for Money Lenders"。
The Code emphasizes the protection of consumer rights：Protect borrowers’ right to know the terms of service；Protect the privacy of customer data；Ensure equal credit opportunities for different groups of people，Customers with disabilities should not be discriminated against，Don’t just rely on family status(For example, single parent)、sexual orientation、Discriminate against customers on the basis of age or race。Code also
Require
Clarify the content of credit assessment，Ensure loan applicants understand the key terms of the loan contract。Restrictions on the conduct of debt collection agencies hired by moneylenders。
Money lenders should establish a formal contractual relationship with the debt collection agency they hire.。The money lender should specify in the contract or in writing，Debt collection companies are in the process of collecting debts，Do not threaten or use violence, either verbally or physically, against anyone。In addition, moneylenders should stipulate that debt collection agencies must not use harassing or unfair debt collection methods.
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