News Column

July P2P Online Lending Platforms Offered Loans of CNY20.5bn

August 5, 2014

BEIJING, August 5, SinoCast -- 610 representative P2P online lending platforms included into statistics completed providing loans of CNY 20.546 billion in July, growing 35.1079% over a year earlier, according to p2peye.

According to Xinhua News Agency and Internet Society of China, by July 2014, the number of people engaging in P2P online loan investment was about 290,000 and the industry's stock fund was CNY 33.76 billion, surging nearly one time over 2013.

By June 2014, the number of P2P online lending platforms hit 1,263, completing providing loans of nearly CNY 100 billion in half a year, close to the full-year figure in 2013. Monthly loans to be provided by the end of 2014 are expected to exceed CNY 30 billion and total loans to be provided this year will exceed CNY 300 billion.

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Source: Sinocast Banking & Credit Beat (China)

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