Online Lending Platforms in China Staged World Cup Promotional Events to Draw Investors

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P2P lending platforms in China have staged a slew of World Cup-related promotional events in order to attract investors.

Online finance consultancy Yingcan Zixun (盈灿咨询)  looked at 105 P2P finance platforms with lending balances in excess of 1 billion yuan as of the end of May, and found that by 24 June a total of 36, or 34.29%, had staged sales events involving the World Cup.

27 had staged “World Cup quizzes”, most of which required that participants provide a set investment amount within a given timeframe to qualify.

Wangying FInance (万盈金融) for example staged a sales activity requiring that participants make an investment tot 20,000 yuan to participate in a quiz event, while Baoxiang Finance (宝象金融) required a cash investment of 10,000 yuan.

14 other P2P lending platforms also made offers of extra returns or cash prizes during the course of the World Cup.

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