Reuters is reporting today that according to an internal memo Dianrong is blaming its current problems on the Chinese government; such criticism is rare in China, particularly these days and points to the level of frustration being experienced in the Chinese fintech sector; Dianrong co-founder Guo Yuhang said in the memo, “We hope regulators can give the industry a clear, and definite timetable, and give guidance and a ray of hope for companies that stick to compliance”. Source.
Peter Renton is the chairman and co-founder of LendIt Fintech, the world’s first and largest digital media and events company focused on fintech. Peter has been writing about fintech since 2010 and he is the author and creator of the Fintech One-on-One Podcast, the first and longest-running fintech interview series. Peter has been interviewed by the Wall Street Journal, Bloomberg, The New York Times, CNBC, CNN, Fortune, NPR, Fox Business News, the Financial Times, and dozens of other publications.