As a result of the rapid growth witnessed by the Chinese e-commerce sector, the central bank was considering issuing a third batch of licenses for handling online payments, the official mentioned during an industry conference. In 2012, the value of online transactions reached CNY 6 trillion.
On July 6, the central bank issued 27 more such licenses to vendors, including Sina.com and Baidu.com, bringing the total to 250. The licenses give companies a range of capabilities, including handling online payments, mobile payments, prepaid cards and banking cards. About 97 licensed companies were engaged in online payment business in 2012, the same source indicates.
In July 2013, the central bank issued a report about P2P lending websites in the country. The report mentioned a series of severe issues in the business for which there is little regulation.
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