Stock Groups

China central bank will emphasize regulation, development of internet finance sector -state media By Reuters

by Mike Robinson

[ad_1]

© Reuters. FILE PHOTO – The People’s Bank of China’s headquarters (PBOC), is pictured at Beijing, China, September 28, 2018. REUTERS/Jason Lee

BEIJING, (Reuters) –China will stress both regulation and the development of internet finance sectors, Guo Shuqing of the Communist Party chief of People’s Bank of China stated to state TV.

Guo stated that most financial issues on China’s Internet platforms have received positive responses and have since been solved.

Guo is China’s most important banking and insurance regulator. “Only adhering integrity and innovation and complying with laws, regulations and laws can we give equal attention to standardization.

He said that authorities have discovered about 1000 financial issues on 14 different internet platforms. Most of these have received positive response and around half have been addressed.

Chinese regulators have targeted internet giants as part of a broad-based crackdown that includes privacy and antitrust issues.

Disclaimer Fusion MediaWe remind you that this site does not contain accurate or real-time data. CFDs include stocks, indexes and futures. Prices are provided not by the exchanges. Market makers provide them. Therefore, prices can be inaccurate and differ from actual market prices. These prices should not be used for trading. Fusion Media does not accept any liability for trade losses you may incur due to the use of these data.

Fusion MediaFusion Media or any other person involved in the website will not be held responsible for any loss or damage resulting from reliance on this information, including charts, buy/sell signals, and data. Trading the financial markets is one of most risky investment options. Please make sure you are fully aware about the costs and risks involved.



[ad_2]