In December, Dianrong co-founder Guo Yuhang put $10 million of his own money into the company to reassure investors.
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.
Company co-founder pleads with Chinese regulators to give the sector a ‘ray of hope.’
The company said it will continue to scale back its offline services.
This week, Andrew Polk, partner at Trivium China, joins us to discuss what’s happening with the P2P lending industry in China.
Regional governments have intensified the clampdown on online lenders in recent months.
If a marathon is a test of physical limits, then a Hackathon is a test of mental limits. With limited time and technological resources, participating teams conjure up wild startup and product ideas. TechCrunch, an influential media outlet covering tech trends in Silicon Valley, has long believed Hackathons play an integral role in fostering entrepreneurship […]
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.
The company said the decision was made “to fulfill regulatory requirements.”