Internet finance blazes new ground

Peer-to-peer loans offer fresh approach but pose new risks

Internet-based finance is an exciting and innovative sector, but it also carries new forms of risk, said industry insiders at the 11th China International Finance Forum held in Shanghai last month.

Ma Delun, president of the Banking Accounting Society of China and former vice-governor of the People's Bank of China, said Internet-based finance is a break with the traditional administration model that includes management of credit approval, interest rates and prices.