Multiple sessions at Boao are focusing on Internet finance, an increasingly hot topic. [Special Coverage]
Internet finance, since its inception in 2013 in China, has attracted massive attention for just how fast the sector is growing. Consumer services like third party payments, and financing methods like crowd-funding, have witness double to even triple digit annual growth rates.
Participant Jin Lin says that after more than two years of growth, we should all change our views about the sector.
However, some areas of internet finance are facing a less positive outlook. Peer to Peer lending, having grown rapidly as a mean of financing intermediary, has suffered multiple setbacks in 2015. Cases of ponzi schemes and appropriations have taken a toll on the sector's reputation.
China's banking regulator has issued a new set of specific guidelines for internet finance in July last year. Many call this a turning point for the sector. P2P practitioners like Zhang are facing tighter regulations, and they're forced to implement new measures to avoid troubles.
Zhang admits that gaining back investors' trust requires patience, but that the profit will by far outweigh the pains.
