What's in a Name? If It's 'P2P Lender,' Gov't Says Don't Open

(Beijing) – China has halted the launch of companies with names suggesting they provide financial services, as regulators examine existing firms to make sure they follow new requirements for conducting operations online.

The governments of Beijing, Shanghai and Shenzhen have temporarily halted the opening of firms whose name and scope of operations suggest they provide financial services, people close to the matter said.