NPC deputy suggests clean up risks of P2P online loans completely

Xu Nuojin, deputy to the National People’s Congress and the governor of the People’s Bank of China Zhengzhou Branch, said that the current Internet financial remediation is facing some new challenges.

Xu Nuojin, deputy to the National People’s Congress and the governor of the People’s Bank of China Zhengzhou Branch, said that the current Internet finance sector is facing some new challenges.

These include the difficulty of removing the remaining online lending institutions, and that of disposing of closed institutions.

He mentioned that internet finance supervision should adhere to the strategy of “classification for disposal with removal as priority”, and thoroughly clean up the risks of P2P online loans.

He said that the government should pay close attention to building and improving a long-term regulatory mechanism that adapts to the characteristics of Internet finance and increase industry supervision.

Disclaimer: This is an article created by Michael Liang for Chinasdg.org. You can find the original article here: https://chinasdg.org/2020/05/27/npc-deputy-suggests-clean-up-risks-of-p2p-online-loans-completely/.

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