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...