Huge Internet finance firms to be assessed
Print Edition
CHINA will explore methods to include large Internet financial businesses of systemic importance in its macro prudential assessment, said a central bank report issued late Friday.
The People’s Bank of China, the central bank, will improve its supervisory system and strengthen regulation of Internet businesses, let industry and local associations play a bigger role in supervision, and promote new technology, said the report on regional financial development.
Development of Internet finance has helped broaden the financial reach, improved efficiency of financial services, given Chinese more investment options, and helped some small businesses get badly needed loans.
The first peer-to-peer lending platform opened in 2007, and exploded in popularity, with the number of such platforms increasing 18-fold between 2012 and 2015 and the combined transaction volume jumping about 40 times over the period, said the State Information Center.
On top of P2P lending, Internet finance also covers third-party online payments, crowd funding and other financial services. As a result, risk in the Internet finance industry has wide repercussions.
Authorities have strengthened supervision on businesses such as P2P lending, Internet-based asset management and businesses spanning boundaries, third-party online payment, and advertisements of Internet financial services, the report said.
Since the start of this year, the PBOC has placed financial market practices under MPA for strict control of liquidity risks and maturity mismatch risks.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 娌狪CP璇侊細娌狪CP澶05050403鍙-1
- |
- 浜掕仈缃戞柊闂讳俊鎭湇鍔¤鍙瘉锛31120180004
- |
- 缃戠粶瑙嗗惉璁稿彲璇侊細0909346
- |
- 骞挎挱鐢佃鑺傜洰鍒朵綔璁稿彲璇侊細娌瓧绗354鍙
- |
- 澧炲肩數淇′笟鍔＄粡钀ヨ鍙瘉锛氭勃B2-20120012
Copyright 漏 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
