Caixin
Dec 14, 2021 09:27 PM
FINANCE

JD Technology Becomes Latest Fintech Giant to Boost Capital as New Rules Loom

Online microlenders operating across provincial lines must have registered capital, fully paid up, of at least 5 billion yuan, according to a draft of the Interim Measures for the Administration of Online Microlending Business. Photo: VCG
Online microlenders operating across provincial lines must have registered capital, fully paid up, of at least 5 billion yuan, according to a draft of the Interim Measures for the Administration of Online Microlending Business. Photo: VCG

The fintech arm of online retailer JD.com Inc. has increased the registered capital of an online microlending business for the second time in four months to comply with a tighter regulatory regime (link in Chinese) that’s expected to come into effect by the end of the year.

The small loans industry, which is dominated by e-commerce and fintech giants including Ant Group Co. Ltd., Tencent Holdings Ltd. and JD.com, has been on notice of the impending changes since November 2020, when the People’s Bank of China and the China Banking and Insurance Regulatory Commission issued a draft of the Interim Measures for the Administration of Online Microlending Business.

You've accessed an article available only to subscribers
VIEW OPTIONS
Share this article
Open WeChat and scan the QR code