China's online P2P lending jumps four-fold to touch $150b: Report

Credit: Flickr/401(K) 2012

Lending transactions via China’s peer-to-peer (P2P) platforms reached 982.3 billion yuan ($151 billion) in 2015, according to a report released by Wangdaizhijia.com, a mainland Chinese internet financial services web portal.

This is a 288.6 per cent increase from the 252.8 billion yuan ($38.77 billion) in 2014, with mainland Chinese P2P lending platforms brokering an estimated 1.37 trillion yuan ($210.1 billion) as of the end of December 2015, accounting for 2,595 P2P platforms across China. This represents an increase of 1020 new entities, compared with 2014 estimates.

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