Scandals in China’s P2P sector have causes billions in losses to small investors. Photo: BloombergScandals in China’s P2P sector have causes billions in losses to small investors. Photo: Bloomberg
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
Topic |   Banking & Finance
Scandals in China’s P2P sector have causes billions in losses to small investors. Photo: BloombergScandals in China’s P2P sector have causes billions in losses to small investors. Photo: Bloomberg
Scandals in China’s P2P sector have causes billions in losses to small investors. Photo: Bloomberg
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