Scandals in China’s P2P sector have causes billions in losses to small investors. Photo: Bloomberg
Another scandal brews in China’s P2P lending sector as authorities investigate Hangzhou’s largest microloans provider
- Hangzhou’s public security bureau said they will be taking action to prevent losses at Weidai and recover stolen funds
- China has raised the bar for P2P lenders, including increasing the minimum registered capital to 1 billion yuan for an online microlending licence
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Scandals in China’s P2P sector have causes billions in losses to small investors. Photo: Bloomberg
