Microfinance businesses must have a registered capital of at least CNY 1 billion. Those operating across provincial borders must have at least CNY 5 billion.
November 3, 2020Tencent Credit and Alibaba’s Sesame Credit hold more customer data than any of their online lending peers, but they are not providing the data to the national credit database.
September 20, 2019The move is part of a broader crackdown on irregular practices and risks in the P2P sector, and will provide greater protection to investors in online lending platforms.
September 6, 2019