Bank of Finland paper sees inefficiencies driving China’s internet finance
Boom in internet finance creates stability risks
A boom in internet-based financial products in China is presenting a threat to financial stability, a paper published by the Bank of Finland's Institute for Economies in Transition has found.
Author Yao Lei, an economist with the People's Bank of China (PBoC), attributes the rise of weakly-regulated internet finance to the inefficiencies of the traditional financial system. In Internet finance in China, he says financial markets are "still segmented", meaning internet finance can be used "for
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