Central bank to regulate rapidly growing fintech

Big third-party payment firms, P2P lenders likely to come under PBOC oversight

China's central bank said it will strengthen regulation of companies engaged in financial technologies or fintech in a bid to prevent risks.

In a report released last weekend, the People's Bank of China said some financial products offered through internet channels by fintech companies are "systemically important" and hence will be included in its macro-prudential assessment or MPA.