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Internet finance
Internet finance
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The dramatic push into Internet finance opens up a revolutionary means of financing other than resorting to the capital market or conventional banks. It heralds an era in which all market participants can borrow and lend directly on the Internet with few information barriers. Booming Internet finance is closely associated with the development of so-called big data, which incorporates all sorts of information on a platform accessible to many people. The chance of a company defaulting on its loans can be more easily calculated by looking at the data of its past performance instead of just at its balance sheet.
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  • (Xinhua)2017-08-10 17:02

    BEIJING — Chinese courts have turned their attention towards internet finance crime to safeguard the healthy development of the sector. Pressure must be placed on fighting illegal fund-raising cases, which are key to controlling financial risks, according to a guideline issued by the Supreme Peopl...

  • (Xinhua)2017-08-07 08:27

    BEIJING — China will explore methods to include large internet financial businesses of systemic importance in its macro prudential assessment (MPA), said a central bank report issued late Friday.The central bank will improve its supervisory system and strengthen regulation of internet businesses, ...

  • By David Liao(chinadaily.com.cn)2017-07-13 13:54

    An Alipay logo is seen at a train station in Shanghai, February 9, 2015. [Photo/Agencies]A deadline is looming for China's internet finance industry, as a one-year grace period for the fast-growing online lending market to comply with new rules expires in mid-August.By some estimates, just one in 10...

  • By He Wei In Shanghai(China Daily)2017-06-24 08:42

    China's internet giants that forayed into online finance are now joining hands with banks, their perceived competitors, to succeed together in the booming financial technology or fintech sector.The latest such partnership is between Tencent Holdings Ltd and Huaxia Bank Co Ltd, which was announced on...

  • (Xinhua)2017-04-20 10:14

    BEIJING — Wang Pengfei, vice president of a leading internet finance company, has seen the industry grow in China at a galloping pace, along with some shady practices. After working at a State-owned lender for a decade, Wang joined Weidai, an internet finance company whose name means "micro-loan,"...

  • By Ma Si In Boao, Hainan Province(chinadaily.com.cn)2017-03-23 11:25

    More efforts are needed to regulate the booming internet finance industry as cloud computing and big data technology make the sector even more decentralized, a report said on Thursday.The study, Internet Finance Report 2017, said that internet finance should be inclusive and focus more on promoting ...

  • (China Daily)2017-01-13 09:36

    Lei Jun, founder and CEO of Xiaomi Corp, speaks at the company's new product release ceremony in Beijing, May 10, 2016. [Photo by Feng Yongbin/For China Daily]Xiaomi Corp, one of China's most valuable technology startups, is shooting for more than 100 billion yuan ($14.5 billion) of revenue in 2017 ...

  • By Chen Yingqun And Chai Hua In Wuzhen, Zhejiang(China Daily)2016-11-19 07:13

    Funding can help currently underserved people, but risks need to be watched closely To ensure sustainable development of the fast growing internet financial services industry, China will build a system to supervise products and regulate market entry, a top central bank official said on Friday. Pan G...

  • By Shi Jing In Shanghai(China Daily)2016-11-18 07:37

    As China advances its supply-side structural reform, a large number of struggling financial companies will be eliminated, thus exposing once-concealed online financial risks. Peer-to-peer, or P2P online lending platforms, reflect the explosion of online financial risks. Statistics provided by indepe...

  • By Wang Yiqing(China Daily)2016-10-14 14:15

    China will establish a centralized depository system to protect clients' funds that are held by nonbanking payment institutions, under a plan unveiled on Thursday by the central bank and 16 other central government ministries and departments.The plan also mandates a crackdown on unlicensed payment o...

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