Chinese Regulators Seek to End Rampant P2P Fraud (Video)

CCTV on P2P RulesThe Chinese online lending industry continues to reflect upon the just announced rules proposed in the last week.  There is a huge shakeout coming in China as some platforms will probably cease to exist.

CCTV has filed a report reviewing the rules, highlighting the major points which are designed to curtail the “rampant fraud”.  The video shares the story of  an investor who wants to sue a platform after it disappeared after operating for just three months. “When the platforms cannot maintain their daily operations, most of them just choose to run away.”

Watch the video below.

 

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