China Rapid Finance has been acknowledged as the founder member of NIFA. The recognition will enable CRF to work for publishing rules and regulations in developing self-disciplined online lending marketplace in China. CRF expects the official release of such rules and regulations will exert positive impact and eventually confirm the industrial development .
PBOC governor Zhou Xiaochuan is confident to say that China's economy is healthy along with the assurance that yuan will not be devalued again and that the country has enough monetary tools to support the economy.
China's foreign exchange reserves had declined reaching to trillions. However, the government made efforts to support the local currency from dropping further.
China's recent government CNY20 billion or USD3.3 billion bond sale recorded a 5.3% yield, which was the highest obtained by the mainland since selling debt since 2009.
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