Tag: Crackdown

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Defrauded P2P Investors’ Protest Quashed in Beijing

In recent months, the collapse of China’s peer-to-peer (P2P) loan industry has eradicated the life savings of many individuals who had put their money in the high-risk, high-return schemes. Once valued at 1.3 trillion yuan (US$191 billion), P2P loans grew quickly in recent years and became a popular way for individual investors and small businesses to be connected with borrowers or lenders. But the industry has not been well-regulated, and a recent government crackdown