With the new investment, the company will increase its registered capital from the current RMB 300 million to RMB 500 million to comply with new rules.
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Posted inOn the Cusp
Shanghai orders P2P lending platforms to wind down operations: report
Regional governments have intensified the clampdown on online lenders in recent months.
Posted inOn the Cusp
Shanghai unveils five-year fintech hub plan
Shanghai’s financial regulator announced a five-year plan to develop a fintech center on par with competitors around the world.
Posted inOn the Cusp
Briefing: Shanghai regulators to introduce stricter P2P lending rules
No specific rules or requirements have been proposed, such as an implementation timeframe.
Posted inOn the Cusp
Tencent-backed Mogujie shuts down its P2P lending platform
The company said the decision was made “to fulfill regulatory requirements.”
Posted inHeavy Hitters
Briefing: Lufax bets on blockchain to increase transparency of P2P lending
Amid an on-going regulatory crackdown on China’s online lending sector, many platforms are turning to blockchain for help.
Posted inHeavy Hitters
Guangdong’s largest online lender Hongling Capital to close down its operation
The firm said it will shut down its online lending businness by the end of 2021.
Posted inOn the Cusp
P2P lending platforms feel the pressure as regulators squeeze them out of the market
Large P2P lending platforms are exiting the space amid the government’s ongoing efforts to clamp down on fraud activities and lower financial risks.
Posted inOn the Cusp
Hexindai invests in Musketeer seeking new opportunities beyond P2P fraud spooked China
Given China’s worsening online lending environment, Hexindai plans to seek more opportunities in the global market.
Posted inOn the Cusp
Lending Club CEO: US’s and China’s P2P lending need clearer regulation and communication
The fast growth of Chinese P2P platforms is not the only thing that is different from their US counterparts.
