E-finance calls for ratings revolution

A milestone in China's Internet finance sector took place on Jan 1, when Dagong Global Credit Rating Co Ltd released a "credit risk blacklist" and "early warning list" for the sector - the first such reports on the industry.

Internet finance has so far failed to deliver benefits for all market participants. That is especially true of small and medium-sized enterprises and other players in the real economy.

Online finance has become something of a casino for a handful of financial players.