Caixin
Jul 25, 2018 04:50 AM

China’s P2P Online Lending Dominoes Continue to Fall

Beijing-based iqianbang.com was the latest online P2P lending platform to collapse in a liquidity crunch. Photo: VCG
Beijing-based iqianbang.com was the latest online P2P lending platform to collapse in a liquidity crunch. Photo: VCG

Another domino in China’s peer-to-peer lending industry fell.

Beijing-based iqianbang.com was the latest online P2P lending platform to close down. The company announced a “benign exit” last Friday night, citing “deteriorating online lending environment and drying up liquidity.”

Investors in several P2P platforms, including iqianbang.com, gathered Monday at a local Beijing police station to report the loss of money to police.

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