Tuesday, October 27, 2020
Tags Chinese P2P lending

Tag: Chinese P2P lending

“Jucai Cat” and Related Lending Platforms Accused of Illegally Raising USD$10.8B

An online lending group in Shanghai stands of accused of illegally raising over 73.5 billion yuan (approx. USD$10.78 billion) in funds.

Shanlin Finance Founder Sentenced to Life in Prison for 70B Yuan P2P Ponzi Scheme

The man at the centre of an immense P2P Ponzi scheme that illegally raised over 70 billion yuan from more than 620,000...

New York-listed Weidai Withdraws from P2P Lending Operations Following 56.52% Drop in Net Profits

Another one of China's online lenders has shut up operations following a crackdown on the P2P lending sector launched by Chinese regulators...

P2P Platform Xiaoniu Online Becomes the Latest in China to Close Shop

Xiaoniu Online (小牛在线) is the latest P2P platform to shut down operations following the launch by Chinese authorities of a heavy-handed crackdown...

Nine Chinese Provinces Ban Online P2P Lending Operations

A total of nine provinces in China have placed bans on online peer-to-peer (P2P) lending operations by platforms in their jurisdictions, following...

China’s Leading Fridge Maker Sells off P2P Unit for Just 2 Kuai Following USD$200 Million Acquisition

China's top fridge manufacturer has just sold off its peer-to-peer (P2P) lending vehicle for next to nothing, in a further sign of...

Sichuan Province Places Ban on P2P Activity within Its Borders

The huge inland province of Sichuan has placed a ban on both local and outside online lending companies engaging in P2P lending...

Chongqing Bans All P2P Activity, 29 Platforms on Track to Shut Down

The mid-western mega-city of Chongqing has shut down all P2P lending activities within its jurisdiction.

China’s P2P Platforms Drop from over 7,000 to under 600, Few Seen Transitioning to Micro-loan, Consumer Finance Operations

Analysts expect few of China's P2P platforms to make a successful transition to other business models following a regulatory crackdown which has...

P2P Lending Platforms in China Drop Below 600 as Regulators Step up Pressure

The number of regularly operating P2P platforms in China has fallen beneath the threshold of 600 to a new historic low, following...

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Jack Ma Calls for Replacing “Pawnshop Mentality” of Traditional Banks with Big Data-based Credit System

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Digital Lender XWBank Sees Q3 Profits Rise 32%

Sichuan-based direct lender XWBank has seen a sharp on-quarter rise in its profits in the third quarter of 2020, as China makes...