1. In July, the government made the first stab at regulating internet finance when 10 agencies, including the central bank, the banking regulator and the securities regulator jointly issued guidelines that provide an official definition of “internet finance” and specify which agencies are responsible for regulating which types of internet financial institutions.
2. Meanwhile the services PMI reading for the month was 51.2. It had been 52 in October. The manufacturing PMI, reported earlier this week, came in at 48.6 in November, versus expectations of 48.3. It had been 48.3 in October