25 September 2018

Wenzhou unveils private financing rules, paper says

Wenzhou has issued detailed regulations on private financing, giving legal status to underground lenders, Shanghai Securities News reported Tuesday, citing a statement from the local government. The rules set the stage for a private financing law which takes effect on March 1. A public consultation in under way. Wenzhou, which is piloting financial reform, will implement a credit reporting system for private financing, the report said.

– Contact HKEJ at [email protected]



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