P2P loans at record US$18.9b in October
Print Edition
China鈥檚 peer-to-peer lending platforms transacted 119.6 billion yuan (US$18.9 billion) in October, notching another monthly record, a report revealed yesterday.
The monthly transactions rose 4.5 times from a year earlier and brought the sector鈥檚 total value to over 1 trillion yuan so far this year, Online Lending House, a web portal that tracks the sector, said in the report.
P2P lending, which offers easier access and higher returns than bank deposits to individual investors, is likely to hit 8 trillion yuan in transactions by 2020, Yao Yudong, director of the Institute of Finance at the People鈥檚 Bank of China, told a forum in Beijing on Sunday.
鈥淎lthough the P2P industry is facing problems of risk management, the market needs more capital from private banks to support the demand for funds,鈥 Yao said.
The number of problema颅tic platforms fell to the lowest this year when 47 were shut down in October, but there might be a rebound after more detailed rules are unveiled by the end of the year, said Ma Jun, chief research officer at Shanghai Ying Can Investment Mana颅gement Consulting Co.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 娌狪CP璇侊細娌狪CP澶05050403鍙-1
- |
- 浜掕仈缃戞柊闂讳俊鎭湇鍔¤鍙瘉锛31120180004
- |
- 缃戠粶瑙嗗惉璁稿彲璇侊細0909346
- |
- 骞挎挱鐢佃鑺傜洰鍒朵綔璁稿彲璇侊細娌瓧绗354鍙
- |
- 澧炲肩數淇′笟鍔＄粡钀ヨ鍙瘉锛氭勃B2-20120012
Copyright 漏 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
