Breakingviews - Dianrong boss daringly says what many are thinking [Reuters]
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Source: Reuters
Breakingviews - Dianrong boss daringly says what many are thinking | Reuters 3 Min Read HONG KONG (Reuters Breakingviews) - Dianrong’s boss has daringly said what many are probably thinking. Guo Yuhang, co-founder and co-chairman of one of China’s biggest peer-to-peer lenders, blamed the government for his company’s sluggishness. Such regulatory grievances are common from bankers elsewhere, but rare in China. The complaints will strike a chord in the industry even if they don’t alter the course of mercurial rules. In an internal memo seen by Reuters, Guo argued that Dianrong’s business was struggling because “we were told not to grow”. He pointed to fast-changing and fragmented rules, adding that he hoped Beijing would provide the industry with “a clear, and definite timetable, and give guidance and a ray of hope for companies that stick to compliance.” The likes of JPMorgan boss Jamie Dimon routinely balk about policies they perceive to be overly restrictive. Corporate bully pulpits
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