China to curb ‘wild growth’ of Internet finance

Internet finance has grown rapidly in China. However, risks such as fraud, fund flight, illegal fundraising and an imperfect credit system have emerged as well.

In order to further clear regulatory responsibilities, ten central government ministries and industry regulators rolled out guidelines for Internet finance. Though specific rules are still to be unveiled, many market players and experts expect an end to the sector’s previous unregulated wild growth.

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