Legal basis: Civil Code of People's Republic of China (PRC).
Article 667 A loan contract is a contract in which the borrower borrows money from the lender, repays the loan at maturity and pays interest.
Article 678 The borrower may apply to the lender for extension before the repayment period expires. If the lender agrees, it can be extended.
Article 679 A loan contract between natural persons is established when the lender provides the loan.