China’s crackdown has slashed the number of online lenders from 6,000 a few years ago to 1,200 in 2018. Photo: Simon Song

China’s P2P lending crisis worsens as second firm runs into trouble in a week

  • Xinhehui says it will not be able to repay investors a total of US$330 million
  • China’s intensified online lending crackdown is expected to slash number of lenders to 300 at the end of 2019
Topic |   Peer-2-Peer

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China’s crackdown has slashed the number of online lenders from 6,000 a few years ago to 1,200 in 2018. Photo: Simon Song
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