财新英文

New Ping An Consumer Finance Arm Gets Green Light to Start Business

2020年04月09日 21:16

T中

Creation of lender comes as peer-to-peer firms are being encouraged to enter the field following a crackdown

A new consumer finance arm of financial conglomerate Ping An Insurance (Group) Co. of China Ltd. has won regulatory approval to start operation.

The Shanghai branch of the country’s banking regulator has given the green light to Ping An Consumer Finance Co. Ltd. to start operation with a registered capital of 5 billion yuan ($708 million), according to a statement (link in Chinese) posted Thursday on the watchdog’s website.

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