However, it is worth noting that from the company's industrial and commercial business license, Baiqian Finance only has the ability to engage in financial-related software development and back-office services, but does not have the ability to directly carry out financial business. Its products are suspected of usury risk control loopholes, and the offline staging mode is illegal.
Legal basis: Article 680 of the Civil Code of People's Republic of China (PRC) prohibits high-interest loans, and the loan interest rate shall not violate the relevant provisions of the state. If there is no agreement on the payment of interest in the loan contract, it shall be deemed that there is no interest. If the loan contract does not specify the payment method of interest, and the parties cannot reach a supplementary agreement, the interest shall be determined according to the local or the parties' trading methods, trading habits, market interest rates and other factors; Loans between natural persons are regarded as interest-free.