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ARTICLE · 10 DECEMBER 2020

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China Fintech – The Beginning Of A New Regulatory Era?

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This alert outlines the recent potentially seismic shifts in the Fintech regulatory landscape affecting the regulation and commercial business model of China's online micro-lending ...

ChinaTechnology
Matthew Puhar
Matthew Puhar
Sonia Lor
Sonia Lor
Jingli Jiang
Jingli Jiang
Davina Garrod
Davina Garrod
Daniel Cohen
Daniel Cohen
Steven Franklin
Steven Franklin
Calvin Ng
Calvin Ng
Janice Wong
Janice Wong
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This alert outlines the recent potentially seismic shifts in the Fintech regulatory landscape affecting the regulation and commercial business model of China's online micro-lending company ("MLC") sector – a part of the Mainland economy that has become systemically important, with large, internationally well-known players such as Tencent, ANT Group, Ping An and Lufax playing a highly visible role.

These recent draft regulations and guidelines published by the Chinese banking and anti-trust regulators show the new regulatory approach which is proposed to be taken:

  • the November 2, joint consultation paper published by the People's Bank of China (PBOC) and the China Banking and Insurance Regulatory Commission (CBIRC) on the regulation of online MLCs (the "MLC regulations"); and

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