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.
This week, Andrew Polk, partner at Trivium China, joins us to discuss what’s happening with the P2P lending industry in China.
The number of P2P lending platforms has fallen 59% since the end of 2018.
No specific rules or requirements have been proposed, such as an implementation timeframe.
Regulators are requiring P2P firms to clear outstanding loans within a year.
Irrationally exuberant regulators helped blow up a bubble—and when they got cold feet, they popped it