BEIJING -- Despite being supportive of innovative financial products like Yu'E Bao, the central bank will take "appropriate measures" to prevent possible risks arising from the sector, Yi Gang, vice governor of the central bank, said Tuesday.
His comments came after similar statement made by the bank's governor Zhou Xiaochuan, saying China will not crack down on Internet finance, but will improve regulations in the area.
Whether authorities should step in to regulate the burgeoning Internet finance has been widely watched as China's lawmakers gather this week in Beijing to discuss the country's social and economic policies.
While financial products like Yu'E Bao, invented by e-commerce giant Alibaba, gained increasing popularity among the public, some financial experts have cautioned against possible risks.
Yi said the central bank will closely watch market changes to prevent possible risks, while warning investors to be more cautious in their choices.
Read more:
|
 |
 |
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263 Registration Number: 20100000002731 
