Fintech poses “serious” challenge to governance, says former PBoC deputy
Li Dongrong warns of fintech spillover risks, regulatory arbitrage and digital divide
The former deputy governor of the People’s Bank of China (PBoC), Li Dongrong, has called for improved global governance of the fast-growing fintech sector – with the aim to better manage risks and ensure new financial services are created for the benefit of societies as a whole rather than for a select few.
“Fintech has brought new challenges for international financial governance,” Dongrong, who is president of the National Internet Finance Association of China, told the International Finance
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