Only 427 P2P companies were still in operation in China at the end of October, compared with a peak of 6,000 in 2015. Photo: Shutterstock

China’s Hebei province imposes total ban on P2P platforms

  • Hebei is China’s second province to shut down P2P lenders after Hunan as the government continues its clean-up act
  • None of the 35 platforms that applied for administrative tests met the regulations, provincial government says in statement
Topic |   Peer-2-Peer

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Only 427 P2P companies were still in operation in China at the end of October, compared with a peak of 6,000 in 2015. Photo: Shutterstock
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Zhang Shidong

Zhang Shidong

Zhang Shidong is based in Shanghai and reports on business for the Post. He joined the team in 2017, following stints covering China's stock market news for Bloomberg and at a local newspaper in Shanghai.