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Home / South China Morning Post / China’s financial clean-up whittles thousands of peer-to-peer lenders down to just 29, with US$115 billion in outstanding debt

China’s financial clean-up whittles thousands of peer-to-peer lenders down to just 29, with US$115 billion in outstanding debt

Summary:
[unable to retrieve full-text content]China’s defunct peer-to-peer (P2P) lenders still owe depositors 800 billion yuan (US5 billion) four years after a crackdown to clean up the sector, but the mainland’s top regulator said he will do his best to help victims recover their funds in a segment where only a few operators remain.“We’ll assist public security authorities to track down the money even if there is only a glimmer of hope,” Guo Shuqing, chairman of the China Banking and Insurance Regulatory Commission (CBIRC), told state…

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[unable to retrieve full-text content]
China’s defunct peer-to-peer (P2P) lenders still owe depositors 800 billion yuan (US$115 billion) four years after a crackdown to clean up the sector, but the mainland’s top regulator said he will do his best to help victims recover their funds in a segment where only a few operators remain.“We’ll assist public security authorities to track down the money even if there is only a glimmer of hope,” Guo Shuqing, chairman of the China Banking and Insurance Regulatory Commission (CBIRC), told state…

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