China mulling new policies for Internet finance

Zhou Xiaochuan, governor of the People's Bank of China, answers questions at a press conference for the third session of the 12th National People's Congress (NPC) on financial reform in Beijing, capital of China, March 12, 2015. (Xinhua/Yin Gang)

BEIJING, March 12 (Xinhua) -- China is mulling new policies for Internet finance, central bank governor Zhou Xiaochuan said Thursday.

The policies aim at supporting the development of Internet finance and putting in place appropriate regulations, in accordance with the current regulation framework, Zhou said at a press conference on the sidelines of China's annual parliamentary session.

Drafting of the policies began last year, and many rounds of consultation have been conducted between regulators and relevant industries, Zhou said.

The term "Internet finance" covers a range of financial activities, such as online payment, crowd-funding and online sales of financial products, Zhou said.