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Two provinces ban all P2P lenders, more regions expected to get tougher

THE WIRE WITH UP-TO-THE-MINUTE UPDATES

China’s Shandong province has decided to ban all peer-to-peer (P2P) lenders, a local financial regulator said on Friday, in the most radical action taken by a provincial government against the sector.

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

The lenders will be banned from conducting any new business, along with all other . . .

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