China Asks Bad-Debt Managers to Help Address P2P Risks
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.
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