Recent Development of Internet Finance in China

The internet finance sector in China, buoyed by the rise of online payment services, online person-to-person (P2P) lending platforms and online sales of financial products, is a revolutionary means of financing. New in China, relevant legislations are lagging behind product innovations. Internet finance risks are more in risk control and consumer information security. Despite the need to regulate China’s internet banking, the key is to strike a subtle balance between stability and financial market liberalisation.