Tighter regulation means China's peer-to-peer lending industry is ripe for consolidation even as business continues to grow at an explosive pace.
Turnover on the country's P2P platforms reached a record high of about Rmb115 billion $18 billion in September, according to Online Lending House, a domestic portal that tracks the country’s P2P sector. That is 18% higher than in August and more than four times what was recorded a year earlier, it said in a report.
China's developed mega-cities and coastal provinces -- Beijing, Guangdong, Zhejiang, Shanghai, and Jiangsu -- accounted for nearly 90% of total transaction volume last month. Beijing...
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