PBOC to regulate online finance

Central bank aims to release rules 'crucial' to rapidly growing sector's development by middle of year

The central bank is likely to announce rules covering the fast-growing Internet finance sector by midyear, a member of the Chinese People's Political Consultative Conference told China Daily on Monday.

"The central bank has arranged several meetings involving banking, insurance and securities regulators," said the anonymous CPPCC member, who has knowledge of the discussions.