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China’s Sinking Online Lenders Seek Lifeline From Big Investors

Chinese Yuan, Hong Kong Dollar and U.S. Dollar Banknotes
Photographer: Paul Yeung/Bloomberg

Can China’s peer-to-peer lending industry be saved?

The prospect seemed far-fetched just a few months ago, when P2P platforms were failing by the dozens and angry investors were protesting in major cities across the country. But after a nearly two-year government campaign to root out fraud and improve lending standards, a potential path to recovery for the world’s biggest P2P market is becoming clearer.