Regulator to clamp down on P2P loans, stock as collateral

China's top financial regulatory body advocated greater control of potential financial risks emerging from online lending and highly leveraged financing by listed companies.

Financial risks, in terms of both online lending and listed companies' financing through pledging their stocks, are under control at present, according to a statement issued on Monday by the State Council Financial Stability and Development Commission, a Cabinet-level financial regulating body, after its meeting.

The meeting on Friday was chaired by Vice-Premier Liu He. Participants called for strengthening supervision standards after assessing the latest reports about the situation in the two areas in order to control potential risks, said the statement.