This lecture is an overview of the latest development of internet finance in China. internet finance, similar to Fintech in the U.S., has been a burgeoning industry in China in recent years; it plays a significant role in promoting efficiency and equality of finance development in China. Professor Luo Yu will discuss three main topics. First, he will discuss the logic behind the rising of internet finance in China and its impact on China’s economy. Second, he will introduce major business models of internet finance with representative cases including Third-Party Payment, Online P2PLending, Credit Reporting and Rating, and more. Last, he will analyze the risks of Internet finance, the supervision policy from China’s financial supervisory authorities, and future development of the internet finance industry. Insufficient regulation on internet finance at its early stage has resulted in numerous risk scandals in China, and an integrated supervision framework is being formed.

Professor LUO Yu is an assistant professor at the School of Finance, Renmin University of China (RUC). He also serves as the research fellow for various Chinese think-tanks, such as International Monetary Institute and Chongyang Institute for Financial Studies. His research interest covers money, banking and financial development. He gives lectures on banking and internet finance. Prior to joining RUC, he worked for the Industrial and Commercial Bank of China. He earned his PhD degree in finance from RUC in 2014.