This article by Nicole Jao originally appeared on TechNode, the leading English authority on technology in China.
China’s peer-to-peer (P2P) lending industry is in turmoil. In recent months, authorities have ramped up regulatory oversight of the world’s largest P2P lending industry. Investors are losing confidence at their stakes and pulling their funds, diminishing operators’ liquidity; many of them are facing insolvency.
P2P lending, or online lending, is a popular fintech application under which intermediaries gather funds from retail investors and loan the money to small and medium-sized enterprises (SMEs) and individual borrowers. Since these services are almost entirely operated online, they promise ...
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