China puts brakes on $150b micro-lending boom

PBoC bans new online micro-financing firms and limits existing firms from lending outside home province, order seen by FinanceAsia shows. For investors, its a cautionary tale.

China puts brakes on $150b micro-lending boom

Regulators have moved to rein in China's booming micro-lenders, sending shares of several US-listed firms that offer small, unsecured loans online slumping.

For investors, it's another stark reminder of the regulatory perils that can suddenly undermine a lucrative and fast-growing sector of China's ever-changing economy.

The People's Bank of China PBoC has banned provincial governments from approving the creation of new internet micro-lending firms, a type of fintech company that offers...

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