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China’s P2P purge leaves millions of victims out in the cold, with losses in the billions, as concerns of social unrest swirl Frank Tang frank.tang@scmp.com China’s scandal-plagued peer-to-peer (P2P) lending industry has virtually disappeared, but tens of millions of Chinese investors are still owed money. Illustration: Henry Wong Karen Kong has not got a restful night s sleep in the past half a year, after learning that her mother invested all of the family s savings - more than 1 million yuan (US$153,000) - in a little known peer-to-peer (P2P) lending platform. Worries soon turned into anger and despair as the Beijing-based Jieyue United made its way onto the Chinese government s liquidation list, and the chance of getting their money back appears to be dwindling.

Henry wongKaren kongBeijing based jieyue unitedGlobal impactஹென்றி வோங்கரேன் காங்உலகளாவிய தாக்கம்