Local Industry Association Clamps Down on P2P Lending Platforms
The Shenzhen Internet Finance Association has introduced stricter rules for online peer-to-peer (P2P) lending platforms, as the embattled industry rushes to meet a national deadline to do more to regulate itself.
The association’s new rules aim to curtail recruitment of P2P investors on local platforms and curb the establishment of more offline branches, it said in a notice (link in Chinese) issued on Thursday.
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