China to Tighten Regulation of Fintech Consumer Lending amid a wave of Chinese online lending IPOs in the US

China to Tighten Regulation of Fintech Consumer Lending amid a wave of Chinese online lending IPOs in the US

China intends to tighten regulation of online consumer lending at a time when Chinese fintech lending startups are planning initial public offerings in the US. This presents a significant setback as US investors are unlikely to buy the shares as they would have done had the proposal for regulation not been put forward. According to Ji Zhihong, head of the financial markets department at the People’s Bank of China, the need for increased regulation has arisen out of the increasing public doubts about the operations of the online lending models. He says, “In order to prevent and resolve the […]