got problem--> --> -->
Login Subscribe

Press Release
Published December 04, 2017
View complete press releases list

China's banking regulator says will clean up existing micro loans

Date: December 04, 2017
Categories: China, Regulation

China’s banking regulator said that it will clean up existing micro loans after it suspended its approval for new micro loan firms, amid a crackdown on riskier borrowing.
The regulator is also taking measures to curb the rampant growth of cash loans and financial institutions must be licensed for cash lending, Feng Yan, vice chief of Financial Inclusion Affairs Department of the China Banking Regulatory Commission said in a briefing.
Feng also said new rules on micro loans and cash loans will be issued soon.
Re-disseminated by The Asian Banker from Reuters


Comments (0)

Peter G. Zhang's Books
Recent Speeches
  • Financial Market Development in the Process of Rmb Internationalisation - April 8, 2011
  • Managing the risks of Rmb cross-border transactions - February 10, 2011
  • Why Hong Kong and the mainland will benefit from Rmb Internationalisation - January 12, 2011