China Imposes Caps on P2P Loans to Curb Shadow-Banking Risks
Individuals can borrow a maximum of 1 million yuan, CBRC says
P2P lenders barred from selling wealth-management products
China imposed limits on lending by peer-to-peer platforms to individuals and companies in an effort to curb risks in one part of the loosely-regulated shadow-banking sector.
An individual can borrow as much as 1 million yuan ($150,000) from P2P sites, including a maximum of 200,000 yuan from any one site, the China Banking Regulatory Commission said in Beijing on Wednesday. Corporate borrowers are capped at five times those levels.