Monday, October 26, 2020
Tags Chinese P2P

Tag: Chinese P2P

China’s P2P Platforms Drop from 5000 to Less Than 6

Chinese P2P lending has been all-but squeezed out of existence by regulators in response to widespread issues with fraud in the once-flourishing...

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...

PBOC Mulls Ban on Agency Collection Operations for P2P Lending Platforms

The Chinese central bank has just released a draft version of new regulations on agency collection operations that places a ban on...

Beijing Launches Sweeping Investigation into Online Lending, Ping An Subsidiary Targeted

The central government's top financial regulators have launched investigations into some of China's leading online lending platforms in the wake of...

China’s Local Governments Flag Large-scale Withdrawal of Online Lending Platforms

More online lending platforms are expected to topple in China as local governments around the country release new withdrawal lists and guides....

Returns on P2P Loans Set to Weaken as Chinese Regulators Step up Pressure

Average returns on peer-to-peer loans in China are expected to remain weak as Beijing continues to crack down on internet lending.

Citigroup, Goldman Sachs, JPMorgan and Credit Suisse Abandon Chinese P2P Deals

The woes of China's peer-to-peer lending sector continue to worsen, with US investment banks abandoning stateside IPO's for Chinese platforms en masse...

Chinese Central Bank to Share Personal Info of Absconding P2P Debtors

The People's Bank of China (PBOC) has set its sights on the debtors of P2P platforms who wilfully abscond from their repayment obligations, with...

China’s Peak Online Finance Body Demands Reports on P2P Activities of Members

China's peak body for internet finance has launched a new campaign to deal with the worsening state of the country's P2P sector. On 22 August...

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Industrial IoT Financing the Next “Blue Ocean” for Chinese Fintech: Huang Qifan

The former mayor of Chongqing municipality Huang Qifan (黄奇帆) expects Industrial Internet of Things (IIoT) financing to be the next major area...

Legal Changes Expand Power of Chinese Central Bank, Confer Official Recognition to Digital Renminbi

Proposed amendments to the law governing the Chinese central bank are expected to confer it with greater sway and authority within China's...

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

Alibaba-founder Jack Ma has decried the collateral focus of traditional banks in the Chinese financial system, calling instead for the use of...

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...