Xiaomi pulls all P2P lending ads after accusations of promoting fraudulent financial products

Chinese smartphone manufacturer Xiaomi has pulled all ads promoting peer-to-peer (P2P) services from its smartphones. The move comes after the company received complaints that fraudulent and ill-moderated financial products were being promoted within its MIUI operating system. Xiaomi received 429 complaints relating to related risky P2P lending platforms, involving a total of RMB 40 million. […]