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One more local government bans all P2P platforms

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The local government of Hebei province has decided to ban all peer-to-peer (P2P) lenders, said the local regulator on Friday, after three provinces and one city took the most radical action by a provincial government against the sector in the past two months.

None of the 29 P2P lending companies operating in the region complied with regulations and passed their scrutiny, according to a statement released on Friday by the provincial financial administration of Hebei . . .

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