Scandals 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
Scandals in China’s P2P sector have causes billions in losses to small investors. Photo: Bloomberg
Business /  Companies

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
Eric Ng
Eric Ng

Updated: 10:18pm, 5 Jul, 2020

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Scandals 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
Scandals in China’s P2P sector have causes billions in losses to small investors. Photo: Bloomberg
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