Policy discussion of internet finance in China

Abstract

Internet finance has recently gained increasing attention in China. Many are concerned about whether it will reshape the financial service industry and significantly threaten the existing players. We think the boom in Internet finance in China is attributable not only to the mega transformation trend to mobile Internet, but also to the inefficiencies of the current financial system. Therefore, we see a need to accelerate the market-oriented financial reforms and strengthen function-based regulation to foster the healthy development of Internet finance and the overall financial system.