Online finance now 'due for consolidation'

Finance | Zheng Yangpeng

The emergence of Internet finance in China is providing more funding channels for small and medium-sized enterprises, but that's not necessarily good news for all lenders in the domain.

Emmanouil Schizas, senior economic analyst of the Association of Chartered Certified Accountants, an international professional organization, said major consolidation might be on the way for China's vigorous Internet finance sector, which has by his count "tens of thousands" of small companies.