China to Frame Rules for Online-Only Banks This Year in Boost to Foreigners: Sources

New York Times | Jan 14, 2020 at 4:51 AM
  • China is working to finalize its first rules to cover online-only banking operations in a push to minimize risk in the financial sector and attract players including foreign lenders.
  • The framing of rules come as companies’ use of data as well as digital and artificial intelligence technologies have transformed China’s financial services landscape, from processing payments to selling investment products.