News Snapshot:
(Bloomberg) -- China’s top financial regulator said all fintech platforms that offer banking services must comply with the same capital requirements as those imposed on traditional lenders to curb risks. The regulator has set different deadlines for different financial services with the longest grace period of no more than two years, Guo Shuqing, chairman of the China Banking and Insurance Regulatory Commission and party secretary of the central bank, said at a briefing on Tuesday, without elaborating. China has introduced a slew of rules for online lenders since late last year, telegraphing an abrupt loss of appetite among regulators for...
