China’s Hunan province has banned P2P lenders from conducting any new business. Photo: Bloomberg
China’s Hunan province has banned P2P lenders from conducting any new business. Photo: Bloomberg
Peer-2-Peer

China’s Hunan province imposes total ban on P2P lenders after operators fail to comply with regulations

  • Hunan’s move is likely to spur other provinces to control the wayward financial sector that has seen more than 5,970 platforms default or shut down as of September

China’s Hunan province has banned P2P lenders from conducting any new business. Photo: Bloomberg
China’s Hunan province has banned P2P lenders from conducting any new business. Photo: Bloomberg
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