19 August 2019

Govt readying policies on online financial firms, paper says

Several ministries in China are working jointly on supervision policies related to the fast-growing online financial industry, Shanghai Securities News cited People’s Bank of China (PBoC) vice governor Li Dongrong as saying. Li Daokui, former member of the PBoC’s Monetary Policy Committee, agreed that financial activities being carried out on the internet should be regulated properly, the report said, adding that he expects some policies to be rolled out within this year. Wang Jingwu, president of the central bank’s Guangzhou branch, will reportedly submit policy proposals during the National People’s Congress and Chinese People’s Political Consultative Conference plenums this week.

– Contact HKEJ at [email protected]



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