5. National Internet Finance Association of China launches in Shanghai

The National Internet Financial Association of China is inaugurated in Shanghai on March 25, 2016. [Photo provided to chinadaily.com.cn]

The National Internet Financial Association of China, which was founded in Shanghai on March 25 last year, is playing a crucial role in the healthy development of China's burgeoning Internet finance sector. The association focuses on formulating and introducing industry rules and self-disciplinary mechanisms to better regulate the internet finance sector and to promote its further development.