BusinessvolumeofChina'speer-to-peer(P2P)onlinelending,thoughrecoveredmoreorlessonamonthlybasis,waslessthantheyear-earlierlevelinMarchfollowingincreasedregulatio
TheBeijingInternetFinanceAssociationhasorderedP2Ponlinelenderswhoareengagedincashloanstocheckinwiththeassociation,andkeepinterestratesbelow36%,ThePaperreported.
Outstanding peer-to-peer (P2P) loans in China soared 153.5 percent year on year to hit a record high at the end of September, a latest industry report showed.
China issued a regulation on Wednesday to toughen its control of peer-to-peer lending companies, thus cracking down on illegal fundraising activities through such platforms and preventing financial risks.
China's online peer-to-peer (P2P) lending platforms are losing their shine as regulators have tightened supervision to prevent risks.
Chinese authorities released a draft of new rules on Monday that tighten regulation of peer-to-peer (P2P) lending.
Peer-to-peer lending is now China's third most popular choice for investments of less than 500,000 yuan ($77,150), according to a new survey.
PPDai, one of China's largest P2P online lending platforms, on Wednesday announced the completion of its series B financing round led by Lightspeed China Partners.
Zhang Yutang has made several trips to Xiaogan City of central China's Hubei Province hoping to get back the 300,000 yuan (48,300 U.S. dollars) he invested in a peer-to-peer lending program. The businessman from east China's Zhejiang Province has always returned empty-handed.
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