Arab Today, arab today chinas internet finance on road towards rational development
Last Updated : GMT 23:42:36
Arab Today, arab today
Arab Today, arab today

China's Internet finance on road towards rational development

Arab Today, arab today

Arab Today, arab today China's Internet finance on road towards rational development

China's Internet
Beijing - XINHUA

China's ministries have unveiled guidelines on Internet finance to regulate market order and further clear regulatory responsibilities.

It's the first time Chinese government regulators' make their presence in this industry, which brings promotion, guidance, and warnings in order to direct it to a sound and stable development, as industrial insiders and observers believed.

A "yes" to e-finance

Internet finance, also know as e-finance, refers to loans, investments and other financial services provided through online channels rather than through banks and other financial institutions.

Promoted by information technology and rapid growth of e-commerce, Internet finance has emerged in an explosive development in China, with more and more innovative business modes enlarging its market scale, and with ever-increasing fame to every household and in global e-financial sectors.

To that, the Chinese government says "yes" as the newly-released guidelines encourage innovation in e-financial platform, products and services and collaboration among institutions.

E-finance was described as "dark horse" and has been previously integrated into the national "Internet Plus" action plan.

The guidelines insist on a market-oriented mindset in developing Internet finance and aim to serve the real economy. Internet finance could help small and micro enterprises with investment and fund raising, and also upgrade the quality and efficiency of financial services.

Caution! Risks

Analysts say it's a favorable policy for this sector, which gives a clear identity of e-finance and draws its boundary, encouraging innovation and control risks.

Internet financial modes such as the third-party payment,peer-to-peer,crowdfunding, Internet banking developed rapidly though difficulties and setbacks in the past couple of years.

While e-finance in China made breakthroughs in the development in 2014, financial fraud, illegal fund-raising, etc., have been destructing the financial ecology.

Therefore, besides encouragement that need to bring out new ideas and policy support, the guidelines work to formulate a better system. Industry self-discipline is also required to build a sound and honest environment for Internet finance players.

Guidance to sound development

The guidelines were jointly released on Saturday by ten central government ministries and industry regulators, including the People's Bank of China (PBOC), the Ministry of Industry and Information Technology, the Ministry of Finance and China Securities Regulatory Commission.

The guidelines clearly define peer-to-peer Internet lending, put strict guidelines on fund depository and Internet insurance and trust.

It is believed that the guidelines, filling in the regulatory gap in this new industry, bear milestone significance.

Industrial insiders also foresees an ending to "rampant growth" of e-finances and reshuffle of this industry. At the same time, traditional and emerging Internet finance platforms are expected to join hands.

arabstoday
arabstoday

GMT 17:22 2017 Thursday ,19 October

Blog seeks grooming/men's gifts for competition

GMT 17:12 2017 Thursday ,19 October

Mirror Online launches First Time Dads podcast

GMT 03:30 2017 Thursday ,19 October

Is your country on the Qatar free entry list of 80?

GMT 11:48 2017 Wednesday ,18 October

Intel working with Facebook on chips for AI

GMT 11:20 2017 Wednesday ,18 October

Snap, NBCUniversal form original content venture

GMT 18:25 2017 Tuesday ,17 October

Netflix adds 5 mn subscribers, doubles profit

GMT 13:48 2017 Sunday ,15 October

Bahrain to host eCommerce Forum/Exhibition 2017

GMT 15:36 2017 Saturday ,14 October

Christmas Gift Guide - A Little Obsessed
Arab Today, arab today
Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today chinas internet finance on road towards rational development Arab Today, arab today chinas internet finance on road towards rational development

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today chinas internet finance on road towards rational development Arab Today, arab today chinas internet finance on road towards rational development

 



Arab Today, arab today
Arab Today, arab today Arab tradition glitters in Colombia

GMT 12:59 2017 Thursday ,19 October

Arab tradition glitters in Colombia
Arab Today, arab today Second US judge orders freeze

GMT 08:04 2017 Thursday ,19 October

Second US judge orders freeze
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Silent Republicans have their reasons

GMT 16:55 2017 Thursday ,19 October

Silent Republicans have their reasons
Arab Today, arab today Hiring not part of Alibaba pledge

GMT 11:26 2017 Wednesday ,18 October

Hiring not part of Alibaba pledge
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Sidem reveals plan to improve education

GMT 15:52 2017 Friday ,06 October

Sidem reveals plan to improve education
Arab Today, arab today Ex-French minister Dati wants tough action

GMT 10:54 2017 Thursday ,19 October

Ex-French minister Dati wants tough action
Arab Today, arab today Massacre fears spark race

GMT 19:09 2017 Thursday ,19 October

Massacre fears spark race
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Mercedes says recalls 400,000 UK cars

GMT 06:56 2017 Tuesday ,17 October

Mercedes says recalls 400,000 UK cars
Arab Today, arab today Britain's Vauxhall to cut 400 jobs

GMT 10:53 2017 Sunday ,15 October

Britain's Vauxhall to cut 400 jobs
Arab Today, arab today Hussein Fahmy happy for honoring in festival

GMT 07:47 2017 Tuesday ,17 October

Hussein Fahmy happy for honoring in festival
Arab Today, arab today Climate-disrupting volcanoes helped topple

GMT 16:00 2017 Wednesday ,18 October

Climate-disrupting volcanoes helped topple

GMT 09:31 2017 Monday ,16 October

Dalal Abdel Aziz happy for “Seventh Neighbor”

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman

GMT 18:29 2017 Sunday ,03 September

Designer produced new set of ornaments

GMT 05:11 2017 Tuesday ,17 October

Three killed, 360,000 without power

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 23:42 2017 Monday ,16 October

Better Marriages Make

GMT 06:52 2017 Monday ,16 October

Airbus CEO says won't cling to job

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 20:46 2017 Thursday ,19 October

Qualcomm files lawsuits in China to ban iPhones

GMT 19:29 2017 Tuesday ,29 August

Yomna: decoration leaved positive effects
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday