July 9, 2018 / 8:27 AM / 2 months ago

China will complete crackdown on online financial risks in 1-2 yrs - c.bank

BEIJING, July 9 (Reuters) - China’s central bank said on Monday it aimed to complete a crackdown on online financial risks in another one to two years, and improve long-term regulation of the online financial market.

It will speed up the clean-up of illicit online financial institutions and business by carrying out administrative punishment and criminal crackdown, the People’s Bank of China said on its website. (Reporting by Beijing Monitoring Desk; Editing by Richard Borsuk)

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