China Issues More Rules For Online Lending to Control Risks

What’s new: China’s top banking regulator has issued more rules governing online lending by commercial banks, including loans jointly issued with third-party internet platforms, as authorities ramp up efforts to control financial risks in the sector.

The additional rules further clarify the requirements for loan management and independent risk control expected of lenders, according to a Q&A published by the China Banking and Insurance Regulatory Commission (CBIRC) on Friday.