Curbs vowed for peer-to-peer lending risks

China will reduce the risks of internet finance and peer-to-peer lending with steady progress as the shakeout in the nation's $192 billion P2P lending industry accelerates at a rapid clip.

The latest moves of Chinese financial regulators include organizing industry investigations and urging leading internet platforms to undertake self-inspection to find and fix problems.

Internet lending platforms that comply with laws and regulations will be able to continue to operate while they finish a series of registration processes, the Office of the Leading Group for the Special Campaign against Internet Financial Risks and the Office of the Leading Group for the Special Campaign against Peer-to-peer Lending Risks said on Saturday.