It is reported that the Chinese Central Bank and the China Banking Regulatory Commission will jointly convene a working meeting on the clean-up and consolidation of small network loans. 17 provinces, autonomous regions, municipalities and autonomous regions have approved the petty loan companies such as Beijing, Shanghai, Liaoning and Zhejiang are actively carrying out net loan business and are preparing material for the report. On the evening of November 21, the Office of the Leading Group for Internet Financial Risk Remediation issued a "notice" that no new network microcredit companies should be approved, and no new small loan companies should be approved to carry out small-loan businesses across provinces. A rectification storm is brewing.