Date
12 November 2018

China crafts regulatory regime for internet finance, paper says

China is considering a new regulatory regime on internet finance to promote healthy development of the industry and to control latent risks, the Shanghai Securities News reported Friday, citing industry sources. A working group led by Liu Shiyu, deputy governor of the People’s Bank of China, investigated internet financing in Guangdong province this week, after a similar study in Hangzhou and Shanghai in August, the paper said. The central bank will submit a report to the State Council at the end of this year before releasing any rules, the report said. Prevention of online financial fraud and improvement of information disclosure by internet finance players will be top issues under the new regime, it said.

– Contact HKEJ at [email protected]

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