A Chinese national flag is seen among buildings at the Yujiapu financial centre, in Tianjin, China February 22, 2016. REUTERS/Jason Lee/Files
BEIJING: China's banking regulator unveiled aggressive measures to restrain the country's fast expanding peer-to-peer (P2P) lending sector on Aug 24, warning that almost half of the 4,000-odd online lending platforms are "problematic".
The US$93bil (RM374.15bil) P2P lending sector has been a source of funds for individuals and small businesses overlooked by the country's traditional financial services institutions that prefer big borrowers with better credit history and collateral.
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