ABSTRACT
In addition to the financial institutions and businesses regulated by the “Three Commissions,” we need to pay close attention to the quasi-financial institutions and their businesses regulated by the People’s Bank of China (PBOC), the Ministry of Commerce, the National Development and Reform Commission, other government agencies, and local regulators. Such quasi-financial institutions include mainly pawn companies, guarantee companies, financial leasing companies, private equity (PE) companies, small loan companies, and financial asset exchanges.
