The local government of Sichuan province in southwestern China has decided to ban all peer-to-peer (P2P) lenders, becoming the fourth region to take the most radical action against the sector after Shandong province, Hunan province and Chongqing city.
None of the P2P lending companies operating in the province complied with regulations and passed their scrutiny, according to a statement released by the local financial administration on Wednesday.
“P2P business operated by other types . . .
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