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
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