BEIJING: The amount of funds transacted last month by China’s online peer-to-peer lending platforms rose 11 percent from October to 133.1 billion yuan (US$20.8 billion), according to a report published yesterday.
The figure took the total for the year to 1.2 trillion yuan, said Online Lending House.
Despite the rising popularity of P2P services, problems in the sector remain. A further 79 platforms were ordered to close last month, leaving more than 2,500 in operation, though that figure could fall further as the government is set to introduce detailed regulations by the end of the year.
