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China to Debt Dodgers: We’re Coming For You

An online lending watchdog wants to identify borrowers who maliciously default on their debts in the hope the P2P lenders will soon collapse. Photo: VCG
An online lending watchdog wants to identify borrowers who maliciously default on their debts in the hope the P2P lenders will soon collapse. Photo: VCG

*An online lending watchdog wants to identify borrowers who maliciously default on their debts in the hope the P2P lenders will soon collapse

*The problem of “vicious debt evasion” has emerged as the cost of reneging on P2P loans is low, as credit reference and regulatory tools are underdeveloped

(Beijing) — The deepening crisis in China’s online peer-to-peer (P2P) lending sector has triggered a campaign by regulators to identify borrowers who deliberately default on their debts in the hope that the platform they used will collapse.

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