An internet finance professional commission under the Payment and Clearing Association has been established in Beijing on Tuesday, National Business Daily reported Wednesday, citing several industry professionals. The new body will study business models in internet finance, risk prevention and business rules to help boost the development of the industry, the report said. It was launched jointly by 75 firms from the banking, securities, third-party payment and P2P businesses. Ping An Insurance (Group) Co. of China Ltd. (601318.CN, 2318.HK) chairman Ma Mingzhe was elected as the commission’s chief, according to the report.
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