20 February 2019

China P2P lending avg net interest rate said to be 16.9%

The average net interest rate charged in peer-to-peer (P2P) lending in China in the first quarter of this year was 16.94 percent, with the rate as high as 21.49 percent if some incentives and promotional benefits were factored out, according to a report Thursday.

A study conducted by the China Securities Journal showed that compound growth rate in the number of P2P borrowers was 31.2 percent since 2013, while the loan amount was up 29 percent, reported.

The daily number of P2P borrowers during the first quarter this year was 40,000, compared to 31,000 people during the last quarter of 2013. That represents an increase of 29 percent quarter on quarter.

Guangdong, Zhejiang and Shandong boast the most number of P2P lenders, with the three provinces having 98, 81 and 40 such firms, respectively. The 219 P2P firms from these three provinces make up for 51.4 percent of the country’s total. The average registered capital of China’s P2P lenders is 13.83 million yuan (US$2.23 million), according to the report.

– Contact HKEJ at [email protected]


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