Caixin
Aug 17, 2018 05:23 AM
FINANCE

China Asks Bad-Debt Managers to Help Address P2P Risks

A wave of defaults emerged in the P2P industry as regulators tightened a crackdown on shadow lending. Photo: VCG
A wave of defaults emerged in the P2P industry as regulators tightened a crackdown on shadow lending. Photo: VCG

China’s banking and insurance regulator is working on establishing a mechanism to mitigate rising risks in the peer-to-peer (P2P) lending industry, calling on the country’s four state-owned asset management companies to step in.

Reuters reported a Wednesday regulatory meeting by the China Banking and Insurance Regulatory Commission (CBIRC), citing sources with knowledge of the matter. Caixin has confirmed with sources that the regulator met with senior executives of the four national asset management companies (AMCs) to discuss ways to resolve problems in the P2P industry.

You've accessed an article available only to subscribers
VIEW OPTIONS
Share this article
Open WeChat and scan the QR code
Copyright © 2017 Caixin Global Limited. All Rights Reserved.