China is cracking down on peer-to-peer lending

Thousands of online peer-to-peer lenders in China

China’s banking regulator, the CBRC, announced yesterday that they will place tougher restrictions on thousands of online peer-to-peer (P2P) lenders operating in the country, stating that firms will not be allowed to take deposits from the public, pool investors’ money or guarantee returns.  Tue.,  29 december. 2015 22:26:19 -070