China’s P2P Lending Industry Continues to Struggle

It is estimated that half of China’s peer to peer lending platforms closed down in 2018; by the end of 2019 70% of the remaining platforms will also be out of business; experts believe only 100 platforms will remain after the shakeout when at one time there was reportedly more than 5,000 platforms; the larger platforms are adapting by going into other areas of finance so they can be less reliant on p2p lending; industry researcher Zennon Kapron said, “I believe that over the course of 2019 most of the consolidations that are ever going to happen will happen.” Source.

Peter Renton is the chairman and co-founder of LendIt Fintech, the world’s first and largest digital media and events company focused on fintech.

LendIt Fintech conducts three conferences a year for the leading fintech markets of the USA, Europe, and Latin America. LendIt also provides cutting-edge content all year long via audio, video, and written channels.

Peter has been writing about fintech since 2010 and he is the author and creator of the Fintech One-on-One Podcast, the first and longest-running fintech interview series.

Peter has been interviewed by the Wall Street Journal, Bloomberg, The New York Times, CNBC, CNN, Fortune, NPR, Fox Business News, the Financial Times, and dozens of other publications.

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