What's news

Governments and policies

Internet finance has vital role to play

A central bank official has underlined the importance of Internet finance to the economy. Lu Lei, head of the research bureau at the People's Bank of China, said the growing sector will help direct much-needed capital into financial products designed for micro and small enterprises, and agriculture-related companies. He said China needs financial reforms and innovation to better guide the direction of capital. "With the help of Internet technologies, small companies and the general public will receive financial services more conveniently. This kind of system will screen qualified financiers more efficiently," he said.