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China sets up industry group for Internet finance

Members include major banks, financial firms, P2P lenders and retailers with online sales

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MR PAN: 'Industry self-regulation is beneficial and strongly supports administrative supervision.'

Shanghai

CHINA'S central bank said on Friday that firms involved in Internet finance had set up an industry association, as authorities try to get a handle on the rapidly growing but weakly regulated sector.

The group will seek to "self-regulate" the industry at a time of growing

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