央行出手互联网金融 China Moves to Regulate Internet Financing

It's reported China's central bank is to lead a government effort to stem potential risks from a new generation of popular online investment products. The Wall Street Journal says officials are looking to develop regulations aimed at products offered by e-commerce giant Alibaba, Tencent and Baidu. These products would offer higher yields than bank deposits and are accessible through smartphones and other devices. But some Chinese officials worry that investors often don't know where their money is being placed and are left vulnerable to theft of personal information. The Wall Street Journal cites an unnamed official at the People's Bank of China as saying "the goal is not to crack down on the sector, but to foster its healthy development." For more on this, Marc Cavigli earlier spoke with Cao Can, CRI's Financial Commentator.