China regulates on-line banking

CHINA - The People's Bank of China (PBOC), China's central bank, on 9 July launched a provisional method for regulating on-line banking.

A spokesman for the PBOC said that the new method aims to standardise and guide the healthy development of China's on-line banking business, prevent banking business risks and protect clients' legal rights and interests.

On-line banking businesses refer to financial services offered via the Internet. The central bank is in charge of supervising banks' on-line