Promoting healthy Internet finance
Source: Shanghai Daily |
March 6, 2014, Thursday
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Print Edition
Print Edition
China is to promote the healthy development of Internet finance, improve the mechanism for coordinating financial oversight and keep a close watch on the cross-border flow of capital. It was the first mention of Internet finance in a government work report. Financial products such as Yu’ebao, invented by e-commerce giant Alibaba’s online payment arm Alipay, are gaining popularity, but some financial experts are cautioning against risks.
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