PBOC to regulate, not kill, online finance

The People's Bank of China, the central bank, is exploring possible Internet financing regulation with executives of some Internet finance companies and people in relevant fields this week, a person involved in the meetings told China Daily.

"The central bank is still supporting online finance. It intends to cool the red-hot Internet finance sector rather than quenching its blaze," Huang Zhen, a law school professor of the Central University of Finance and Economics, said. "Banking regulators expect Internet companies to have good security management while making financial innovations."

Huang, a specialist in Internet finance, attended meetings held by the PBOC on Wednesday and Thursday.