China’s Once-Hot Peer-to-Peer Lending Business Is Withering

BEIJING—China’s peer-to-peer lending industry, once a world-beater, is on its last legs.

Entrepreneurs had hoped to fill a gap in the Chinese financial system ignored by state-backed banks. Thousands of peer lenders flourished, gathering funds from small investors and extending credit to family restaurants, parents with tuition bills to pay and other small borrowers. Several larger players such as Yirendai Ltd., PPDAI Group Inc. and Qudian Inc. went public in the U.S.

Fear to Fear lending

P2P disease spreading has replaced it.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Walmart temporarily limits 'non-business critical travel' to ChinaWalmart Inc , the world's largest retailer, said it is temporarily limiting... Sorry Goy, If it's business critical you're still going. Share holder value and what not. F*uck the employees Re: No vaccine for Wuhan, China CORONAVIRUS or SARS2 - can't give you a Lifelong Immunity. It's an RNA virus like Flu or common colds, IT MUTATES FROM HOSTS TO HOSTS, 10-14 day incubation period ..Stop using paper money if you can too. $XRP $BTC
Source: Reuters - 🏆 2. / 97 Read more »