DIANRONG WAS ELECTED TO EXECUTIVE DIRECTORSHIP OF CHINA’S MOST PRESTIGIOUS INTERNET FINANCE ASSOCIATION

March 28, 2016 Industrial Mech

On March 25, the National Internet Finance Association of China officially announced its establishment in Shanghai. Dianrong was elected executive directorship of the National Internet Finance Association of China.

The association is the highest level national industry self-regulatory organization, initiated by the People’s Bank of China. Representatives of financial regulatory and administrative authorities such as Pan Gongsheng, People’s Bank of China Deputy Governor, Yang Xiong, the Deputy Secretary of the CPC Shanghai Municipal Committee and Mayor of Shanghai, and Tu Guangshao, Executive Vice Mayor of Shanghai, unveiled the nameplate in the launch ceremony, and Li Dongrong was elected to be the inaugural president.

During the closed-door session attended by all members, Dianrong became one of the 48 elected members of the executive committee, together with Bank of China, Industrial and Commercial Bank, Shanghai Pudong Development Bank, among others, and was the only P2P lending company in the executive committee.

According to the co-founder and co-CEO Kevin Guo Yuhang, the establishment of the National Internet Finance Association of China shows the great importance China’s leadership at the highest level place on the development of internet finance and as a confidence booster, it will significantly stimulate the growth of the industry.

In addition to emphasizing industry self-regulation and self-monitoring, the National Internet Finance Association of China will actively participate in developing the regulations, rules and standards for the internet finance industry and serve as a bridge between the industry and regulators in industry innovation and development issues to ensure regulators have a better understanding of the market trends and the industry receives timely regulatory guidance that will contribute to the healthy and sustainable growth of the internet finance industry.