China’s P2P Lending Crackdown Leaves $115B In Losses
PYMNTS
AUGUST 14, 2020
China’s peer-to-peer (P2P) lending sector, once 6,000 businesses strong, has been reduced to fewer than three dozen as the government tightened regulations, leaving billions in loans unpaid. 14), per the report. But the news service reported the sector was plagued by fraud and defaults.
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