Regulatory problems have choked China's P2P lending industry

Business Sep 6, 2019

Regulatory problems have choked China's P2P lending industry

Overburdened Chinese regulators have left the peer-to-peer lending industry to poorly staffed local governments, according to ex-regulators, threatening the survival of an important credit mechanism once seen as crucial for the country's economy. The resulting difficulties, as the industry tries to grapple with pyramid-scheme scandals ...