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.
