Returns on online loans in China remained well ahead of those for bank wealth management products (WMP) and other investment options in November.
A report from PY Standard (普益标准) indicates that in November the average return on bank WMP’s in China was 4.37% (not including structured products, net value products and foreign currency products), for a decline of 9 basis points compared to October.
The average return on trust wealth management products was 8.9%, for a rise of 29 basis points, while the return on money market funds in China saw a modest increase of six basis points to 2.83%, reversing four months of consecutive decline.
The average return for online loans was 9.3% in November, for a decline of 11 basis points, yet still far ahead of other wealth management options.
In November the number of regularly operating online lending platforms fell by 56 compared to October to 1184 in total, as Beijing’s crackdown continues to leave the P2P sector reeling.