Sunday, January 17, 2021
Tags Chinese P2P lending

Tag: Chinese P2P lending

Guangzhou’s PPmoney Withdraws from All Online Lending Operations

Guangzhou-based P2P platform PPmoney has announced its withdrawal from all online lending operations following increased pressure on the Internet finance sector from...

China’s P2P Lending Sector Crushed out of Existence Completely

The era of unrestrained P2P online lending in China has come to complete end with the closure of the last few platforms...

China’s P2P Online Lending Companies Drop to Just Three from More than 5000 as Era of Wild Growth of Internet Finance Ends

P2P online lending companies in China have been all but squeezed out of existence following a crackdown on the once-flourishing sector due...

“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...

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China’s Biggest Bank Opens up to Applications for Digital Renminbi Wallets in Shenzhen

The Industrial and Commercial Bank of China (ICBC) is making digital renminbi wallets available to consumers in the southern tech hub of...

Chinese Central Bank Outlines Efforts to Improve Execution of Monetary Policy

A senior official from the People's Bank of China (PBOC) has published a paper on its official website outlining current plans to...

Foreign Investors Raise Holdings on China’s Interbank Bond Market by over 1 Trillion Yuan in 2020

The latest data from the Chinese central bank points to a sharp rise in investment by foreign institutional investors on China's interbank...

Shenzhen Finance Sector Sees Total Deposits Exceed 10 Trillion Yuan

Financial institutions based in Shenzhen have just seen their deposit levels rise to record-breaking levels.