Date
24 October 2017

Capital crisis grips peer-to-peer online lenders, paper says

Up to 74 peer-to-peer (P2P) online micro-lending platforms had capital shortfalls last year, owing investors over 1 billion yuan (US$165.12 million) in total, the Beijing News reported Thursday. Four cases continued into the first week of 2014 and 60 occurred in the fourth quarter of last year. There are no regulations governing the operations of these P2P online lenders. The risks from these lenders are high as there are no entry requirements, industry standards or regulatory bodies, Huang Zhen, director of Central University of Finance and Economics’ Institute for Law and Finance, was quoted as saying.

– Contact HKEJ at [email protected]

EL/AC/SK

    EJI Weekly Newsletter

    Please click here to unsubscribe