At the end of March, around 550 P2P platforms were still operating normally in Beijing, Shanghai, and Guangdong, which amounts to more than half of P2P firms in the country. Photos: Bloomberg

Beijing’s P2P owners and senior executives hit with travel ban as China cracks down on online lending

  • Chaoyang district posts notice on social media account banning staff from peer-to-peer lending platforms from leaving China’s capital city without approval
  • Post later deleted, but highlights China’s willingness to clean up the sector after the rapid development of often risky online lending
Topic |   China economy

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At the end of March, around 550 P2P platforms were still operating normally in Beijing, Shanghai, and Guangdong, which amounts to more than half of P2P firms in the country. Photos: Bloomberg
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