China will further advance rectification of Internet finance in a bid to establish a long-term mechanism that facilitates the orderly development of Internet finance industry, said Pan Gongsheng, vice governor of the People's Bank of China.
Speaking at a teleconference, the vice governor who also leads the Internet finance special rectification work team, said that the first phase of the rectification had progressed smoothly with overall risk gradually leveled down and risk case frequency preliminarily managed.
The next step is crucial for the rectification which would focus on key regions and key subjects to set down examples for the rest to follow, said Pan.
Cross-regional and cross-filed rectification work needs to be coordinated, and risk should be managed orderly and safely for progressing forward, according to Pan.
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