China P2P Lenders in Cross Hairs as Regulators Curb Share Loans
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China’s online lenders are in the cross hairs as regulators take aim at the once-booming business of arranging loans for stock market investment.
The China Securities Regulatory Commission said over the weekend that it would ban online sites from handing out new loans for share purchases, blaming some “information technology service providers” for illegal securities practices which it said contributed to the recent stock market crash.