China Internet Finance Association Officially Inaugurated; Source Code Capital Elected as Council Member

On the morning of March 25, the much-anticipated inaugural meeting of the National Internet Finance Association of China (NIFA) was held in Shanghai. Leaders from the People's Bank of China, the Shanghai municipal government, the Ministry of Civil Affairs, the China Banking Regulatory Commission, the China Securities Regulatory Commission, and the China Insurance Regulatory Commission attended the ceremony and delivered remarks.

This marks China's first national industry association for internet finance, established under the leadership of the People's Bank of China in coordination with the CBRC, CSRC, CIRC, and other relevant authorities. The association will strengthen industry self-regulation alongside improved government oversight. Its three core functions are: establishing operational rules and industry standards for internet finance; defining self-disciplinary penalty mechanisms; and reinforcing awareness of legal compliance, integrity, and self-discipline.

The association selected members according to the principle of "prudent selection, standardized process." Members consist primarily of traditional financial institutions — banks, securities firms, and fund companies — accounting for over 90% of the total. Source Code Capital, Meituan, and Yinker were among the influential internet finance entities invited to participate.

At the inaugural meeting and first general assembly of members, four investment institutions were selected as governing council members of the association. Source Code Capital had the honor of being chosen. Meanwhile, Meituan — whose LP is Xing Wang of Source Code Capital — was elected as a standing council member, and Yinker, a portfolio company of Source Code Capital, was selected as a regular member.

Source Code Capital elected as a governing council member of the Internet Finance Association

Source Code Capital's DNA in internet finance dates back to its founding. Most of Source Code Capital's LPs are active entrepreneurs in the internet industry, and Source Code itself — which has long been deeply involved in internet finance — has produced impressive results in this sector, with multiple star projects including Qufenqi and Yinker, and has received several prestigious industry awards.

Since its establishment, Source Code Capital has made meticulous investments in internet finance, with numerous star projects including:

Qufenqi

An internet finance and consumer credit company targeting college students and white-collar workers

Yinker

An asset trading platform focused on mortgage loans and commercial paper

Yi Wealth

A one-stop service platform for financial advisors and innovative third-party wealth management institution, using trust products as its entry point

LanTouzi

A public account for wealth management content plus an online wealth management platform

JuAicai

A mobile wealth management expert — China's MOTIF

GESAFE

An influential financial services management company in the sunshine private equity fund space

Huoqiu

A fund-like wealth management platform that standardizes bond products

Ether Capital

An early-stage startup investment and financing platform in China

Lingjin

A community for fixed-income professionals

Suishou

A mobile wealth management platform that enters through tools

Hui Fenqi

A comprehensive financial services company in real estate, entering through the rental housing sector

Asset360

A non-performing asset collection and disposal platform

Lean Work

SaaS for forex brokers

The above investments are all highly representative in their respective business areas, reflecting Source Code Capital's years of deep thinking and substantial commitment, while also demonstrating its comprehensive layout and development trajectory in internet finance. Source Code Capital will continue to focus its investments on internet finance and related sectors going forward.

Yi Cao, founding partner of Source Code Capital, said: "As a governing council member of the Internet Finance Association, Source Code Capital will, under the guidance of the association, dedicate itself to strengthening industry self-regulation, improving standardized operations, and enhancing transparency, jointly promoting the rapid and healthy development of China's internet finance industry."

* Association Functions

The National Internet Finance Association of China is a national self-regulatory organization for the internet finance industry. It will conscientiously implement the decisions and plans of the Party Central Committee and the State Council on the standardized development of internet finance, and under the guidance of the People's Bank of China, in accordance with the requirements of national financial regulatory laws and regulations, earnestly fulfill its self-regulatory responsibilities for the internet finance industry, giving full play to the positive role of industry self-regulation mechanisms in standardizing the market conduct of member institutions and protecting the legitimate rights and interests of the industry.