This lecture is an overview of the latest development of internet finance in China. internet finance, similar to Fintech in the U.S., has been a burgeoning industry in China in recent years; it plays a significant role in promoting efficiency and equality of finance development in China. Professor Luo Yu will discuss three main topics. First, he will discuss the logic behind the rising of internet finance in China and its impact on China’s economy. Second, he will introduce major business models of internet finance with representative cases including Third-Party Payment, Online P2PLending, Credit Reporting and Rating, and more. Last, he will analyze the risks of Internet finance, the supervision policy from China’s financial supervisory authorities, and future development of the internet finance industry. Insufficient regulation on internet finance at its early stage has resulted in numerous risk scandals in China, and an integrated supervision framework is being formed.