'No crackdown' on Yu'ebao

Online financial products gaining popularity, to be closely watched by regulators

The People's Bank of China will regulate the fast-growing Internet finance sector more carefully, but it won't crack down on it, the head of the central bank said on Tuesday.

PBOC Governor Zhou Xiao-chuan made the comment on the sidelines of the annual session of the National Committee of the Chinese People's Political Consultative Conference.