China tightens rules for micro lenders to contain financial risks

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China’s banking and insurance regulator issued new rules for micro lenders in a move to contain risks they pose to the financial system, a blow to online lending companies such as Ant Group.

China set caps on the amount of capital that micro lenders can raise in the debt market, according to the new rules released by the China Banking and Insurance Regulatory Commission (CBIRC) on Wednesday.

The new rules require micro lending companies to control their debt levels. Outstanding loans from other banks, shareholders and other non-standard sources must not exceed their . . .

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