The China Banking and Insurance Regulatory Commission has created a grading system for consumer finance companies. Photo: CCTV.com
China fintech: banking and insurance watchdog CBIRC lays out ways it may punish risky consumer finance companies
- Consumer finance companies with lowest grade could face nationalisation
- Grading system comes after Beijing suspended Ant Group IPO
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Fintech
The China Banking and Insurance Regulatory Commission has created a grading system for consumer finance companies. Photo: CCTV.com