Caixin OnlineFinance & EconomicsTop Stories Finance Closer Look: Why Regulators Should Take a Hard Look at P2P Lending
11.27.2013 19:27

Closer Look: Why Regulators Should Take a Hard Look at P2P Lending

The PBOC has set criteria to define illegal fundraising in the industry, but there are signs a problem has already grown very large
By staff reporter Yang Lu

(Beijing) – Risks associated with peer-to-peer (P2P) lending are increasingly drawing the attention of officials and would seem to be an argument for regulators to act.

The central bank has set out three criteria for deciding whether P2P lending websites are involved in an illegal fundraising. It made the announcement after members of the inter-ministry office in charge of coordinating regulatory efforts against illegal fundraising met on November 25.

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