by: Grow VC Group
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The online lending market, or peer-to-peer market, in China has been growing incredibly fast over the last decade, with hundreds of platforms entering the sector and many others closing operations due to fraudulent activities or bankruptcy. The local P2P market has reached a new milestone at the end of 2015, with one of the most established platforms going public on New York Stock Exchange, while at the same time another large portal being seized by Chinese police.

The Chinese P2P Market with its estimated 9.4 trillion yuan ($1.5 trillion) total assets is the largest in the world. One of its most popular and biggest portals, Yirendai, founded back in 2012, has recently made history in the sector by becoming the first Chinese P2P lending platform to make an IPO in the US and the second one ever, after Lending Club which went public earlier this year.

The speed of the Chinese online lending market is astonishing, but at the same time leaves many unresolved issues and open question marks. Among these, the sector has been prospering in a legal grey area, with the Government intervening to close down some platforms when it deems offerings are too risky, and many savers are not sufficiently financially literate to fully understand the risks involved.

Read the whole article on Crowd Valley Blog.

Yirendai


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Grow VC Group The Grow VC Group is the world leading, global pioneer of securities crowd funding, peer to peer marketplaces, new investment models and global business development. Established in 2009, the Group has developed new investment models on six continents and continues to innovate the global market.

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This entry was posted on Monday, January 11th, 2016 at 4:00 am and is filed under Business Updates. You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.