China Tightens Online Finance Regulations
China has suspended registration of new businesses with finance-related names, saying that these firms first need approvals from financial regulators. What effects will these measures have on the Chinese fintech competitive space? The restrictions imposed are part of the Government's measures to restrict the proliferation of online financial companies. According to reports citing Caixin, a Chinese magazine, the crackdown is expected to last one year and is expected to focus on P2P lending, crowdfunding, online insurance, etc. The reasons given for the crackdown include failure of P2P....
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