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China mulling new policies for Internet finance

Updated: Mar 12,2015 4:37 PM     Xinhua

BEIJING — China is mulling new policies for Internet finance, central bank governor Zhou Xiaochuan said on March 12.

The policies aim at supporting the development of Internet finance and putting in place appropriate regulations, in accordance with the current regulation framework, Zhou said at a press conference on the sidelines of China’s annual parliamentary session.

Drafting of the policies began last year, and many rounds of consultation have been conducted between regulators and relevant industries, Zhou said.

The term “Internet finance” covers a range of financial activities, such as online payment, crowd-funding and online sales of financial products, Zhou said.

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