Guidelines for Web finance companies soon

China will soon come out with guidelines for the healthy development of the Internet finance sector, a top banking official said on Wednesday.

Pan Gongsheng, deputy governor of the central bank and a member of the National Committee of the Chinese People's Political Consultative Conference, said that the People's Bank of China, the nation's central bank, will play a lead role in formulating the guidelines and also establish a regulatory framework for the Internet finance sector.

The upcoming regulations have sparked interest among members of the CPPCC National Committee this year as Internet financial products and services have grown rapidly in China.