Investors in Chinese online peer-to-peer lender Ezubao chant slogans during a protest in Beijing in February 2016. Photo: AFP
Economy /  China Economy

Cryptocurrency and pyramid schemes add to US$44.5 billion surge in illegal fundraising in China

  • Police investigated more than 10,000 cases of illegal fundraising last year, a 22 per cent rise in the caseload, according to top prosecutors
  • The total amount involved also rose, more than doubling to about 300 billion yuan, the Supreme People’s Procuratorate said
Topic |   China economy
Sidney Leng
Sidney Leng

Updated: 10:16am, 31 Jan, 2019

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Investors in Chinese online peer-to-peer lender Ezubao chant slogans during a protest in Beijing in February 2016. Photo: AFP
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Sidney Leng

Sidney Leng

Sidney Leng joined the Post in 2015 after spending a year and a half working for US media, including National Public Radio and Foreign Policy Magazine. He has been covering China's macroeconomic policies and financial regulations since 2016.