What has been the corporate reaction to the government crackdown on online micro-lending? Two listed companies have halted the establishment of online micro-lending subsidiaries.

The Busen Group said on Wednesday that its management has decided to terminate their participation in the founding of an online micro-lending firm. Nexgo also said Wednesday that it will comply with the new government policies and that its board of directors has decided to halt the establishment of a micro-lending subsidiary. Zhima Credit is a third party credit rating service under Alibaba's finance arm Ant Financial. And it has tightened cooperation with online lending platforms. Zhima Credit says it's inspecting the cash loan platforms that it has ties with and has suspended service to some of those platforms.