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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


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 Wong , Karen Kong , Beijing Based Jieyue United , Global Impact , ஹென்றி வோங் , கரேன் காங் , உலகளாவிய தாக்கம் ,