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China Looks Into Setting Up Debt Managers to Handle P2P Loans

China Looks Into Setting Up Debt Managers to Handle P2P Loans

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FintechNews Roundup
··1 min read

China’s banking regulator is looking at potentially setting up regional bad-debt managers to deal with the collapse of the significant amount of failed peer to peer lending platforms; according to Bloomberg, companies in Shanghai, Zhejiang and Shenzhen have submitted applications to set up local asset managers dealing with bad loans; however the China Banking and Insurance Regulatory Commission has not approved any applications; the once booming sector included over 2,000 platforms and almost 50 million investors; it is estimated that there is $150 billion in outstanding debt. Bloomberg

  • Emily Donato

    With efforts in many different areas of the team, she helps manage, organize and execute digital and event content. She works with webinars, podcasts, social media along with managing the hundreds of speakers that attend our conferences. Emily was a part of the Zimmerman Advertising Program at the University of South Florida. She graduated in 2019 receiving a Bachelor of Science in Business Advertising.

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