The turnover of Chinese P2P lending industry reached 81.8 billion yuan (around US$13 billion) in the first half of this year, according to the latest report released by Wangdaizhijia, a leading Chinese information portal website of P2P online loan industry. The turnover for the whole year is expected to reach 202 billion yuan, the report added.

In 2014 H1, the number of Chinese P2P lending platforms increased steadily at a monthly compound growth rate of 6.11% to 1,184. The information portal predicted that this figure will reach 1,500 by the end of 2014.

The average composite interest rate is 20.17% during the reporting period. The report expects this rate to drop to 17% by the end of this year, while the whole market is becoming more mature and rational.

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Emma Lee

Emma Lee is Shanghai-based tech writer, covering startups and tech happenings in China and Asia in general. We are looking for stories related to tech and China. Reach her at lixin@technode.com.