China Culls Online P2P Lending Platforms f…

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By Huixia SunBEIJING, November 10, 2020 (TMTPOST)–During a three-year crackdown on peer-to-peer (P2P) lending companies to mitigate financial risks, China has chopped down the total number of P2P platforms from about 5,000 at the peak to only three now.Liu Fushou, the General Counsel of the China Banking and Insurance Regulatory Commission, said on November 6 that the industry has been shrinking for 28 consecut