China's P2P platform failures soar as panic spreads in market

China's P2P platform failures soar as panic spreads in market

Pedestrians walk past commercial buildings illuminated at dusk in the Lujiazui Financial District in Shanghai, China. Photographer: Qilai Shen/Bloomberg

Chinese peer-to-peer lending platforms keep falling like dominoes, as the government’s crackdown on shadow banking triggers panic in the $192 billion industry.

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