China P2P Industry ‘Basically’ a Scam, Billionaire Guo SaysBloomberg News
Chinese regulators this month imposed restrictions on sector
Guo was commenting at a Fosun post-earnings briefing
Billionaire Guo Guangchang called China’s peer-to-peer lending industry “basically a scam,” arguing that players in the multi-billion dollar sector, troubled by collapses and frauds, lack the ability to price risk.
To continue reading this article you must be a Bloomberg Professional Service Subscriber.
If you believe that you may have received this message in error please let us know.
- Bitcoin Futures Deliver Wild Ride as Debut Brings Rally, Halts
- Investors Told to Brace for Steepest Rate Hikes Since 2006
- Times Square Subway Bomber Tells Police He’s a Follower of Islamic State
- Longtime NPR Host Tom Ashbrook Is Facing Misconduct Allegations
- Why Arbitrage Traders Are Salivating Over Bitcoin Futures