China's Private Lending (P2P) Enjoys Renaissance After 2 Years Of Banking Turbulence

Private non-bank lending, or person-to-person (P2P) lending, is back on terra firma in China after two years of turbulence with Chinese underground banking woes, supplying much-needed cash to small businesses and individuals. There are about 800 P2P lending platforms online in China, playing matchmaker between lenders and borrowers, the South China Morning Post reported on Monday.