News Snapshot:
Chinese fintech platforms expected to meet capital requirements within two years: regulator Mar 2, 2021 | Business BEIJING (Reuters) – China’s financial technology companies are expected to meet capital adequacy requirements within a maximum of two years, said Guo Shuqing, head of the China Banking and Insurance Regulatory Commission (CBIRC) on Tuesday. Micro lenders, consumer finance firms and banks operated by internet platforms should all have adequate capital like other financial institutions, Guo said at a news conference. Chinese financial regulators have rolled out a slew of measures since last year to tighten the oversight of online lending practices in...
