Steps to tackle fintech risks get more impetus

China will push forward the special campaign on tackling risks in internet finance or the fintech sector, to launch a system focusing on financial conduct and prudential regulation, as well as build the market access mechanism, according to a central bank deputy governor.

The move is based on a principle raised by the country's top financial regulators - there is no exception of any new types of financial business that can bypass the regulatory framework, and the final target is to boost the real economy, Pan Gongsheng, deputy governor of the People's Bank of China, said at a forum in Tianjin on Friday.

Pan said the next step to enhance internet finance regulation will take advantage of technology development and improve credit information disclosure and sharing, based on the building of infrastructure and financial statistics systems, to protect and educate investors.