China’s peer-to-peer lending platforms raised more than 400 billion yuan of funds as of November 2015. Of the 3,600 P2P platforms operating, 1000 were found to be ‘problematic’, according to the Chinese bank regulator’s data. Photo: AFP
China’s peer-to-peer lending platforms raised more than 400 billion yuan of funds as of November 2015. Of the 3,600 P2P platforms operating, 1000 were found to be ‘problematic’, according to the Chinese bank regulator’s data. Photo: AFP
Regulation
Business /  Banking & Finance

new | China imposes cap on peer-to-peer loans to rein in runaway ‘shadow banking’ scams

Individuals are barred from borrowing more than 200,000 yuan on each P2P platform, while companies’ loans are capped at 1 million yuan, CBRC says

Xie YuJennifer Li
Xie Yu and Jennifer Li

Updated: 6:41pm, 4 Sep, 2017

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China’s peer-to-peer lending platforms raised more than 400 billion yuan of funds as of November 2015. Of the 3,600 P2P platforms operating, 1000 were found to be ‘problematic’, according to the Chinese bank regulator’s data. Photo: AFP
China’s peer-to-peer lending platforms raised more than 400 billion yuan of funds as of November 2015. Of the 3,600 P2P platforms operating, 1000 were found to be ‘problematic’, according to the Chinese bank regulator’s data. Photo: AFP
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