Chinese authorities shut down Maizi Jinfu Shanghai office in latest P2P clampdown

Chinese authorities shut down Maizi Jinfu Shanghai office in latest P2P clampdown

A security guard is sitting outside the empty office of Chinese P2P lending firm Maizi Jinfu in Shanghai on November 25, 2019.

The local authorities have abruptly shut down the Shanghai office of Maizi Jinfu, a Chinese fintech company that provides peer-to-peer (P2P) lending services, as the country further steps up its clampdown on the soured online lending industry.

The local public security bureau closed down the office of Maizi Jinfu with paper strips that read “sealed by the Pudong Branch of Shanghai Municipal Public Security Bureau on November 24, 2019,” DealStreetAsia has learnt after an on-the-spot visit at the office tower in eastern Shanghai’s Pudong district on Monday.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter