To to control fraud in online banking platforms , China 's authorities plan to enforce internet finance industry regulations . China 's online peer - to - peer ( P2P ) industry is unregulated and has been subject to fraudulent activity in recent years , with 1,200 P2P companies currently operating that are reportedly in trouble . Authorities plan to cooperate with bank regulators to help set up warning systems to alert them to financial risks and help make it easier for the sharing of information between regions and departments .
To help control fraud in online lending platforms, China's authorities plan to tighten internet finance industry regulations. China's online peer-to-peer (P2P) industry is unregulated and has been subject to fraudulent activity in recent years, with 1,200 P2P firms currently operating that are reportedly in trouble. Authorities plan to work with bank regulators to help set up warning systems to alert them to financial risks and help make it easier for the sharing of information between regions and departments.