According to China's relevant financial laws and regulations, commercial banks, urban and rural credit cooperatives and other non-bank financial institutions can engage in the business of absorbing public deposits, while securities companies, stock exchanges, insurance companies and other financial institutions and any non-financial institutions and individuals are not allowed to engage in the business of absorbing public deposits.
Because lending companies belong to financial institutions, they are not allowed to absorb citizens' savings, otherwise it will constitute the crime of illegally absorbing public deposits.