Tremendous Growth in China’s P2P Lending Platforms

The latest 2014 China Online Lending Industry Report reveals that China’s P2P lending platform industry has grown rapidly both in terms of number of providers and turnover.

The number of P2P lending platforms swelled from nine to 700 in five years. In fact, turnover was growing ten fold each year to reach RMB 110 billion in the same period.

The growth of China’s P2P lending platforms business is largely due to the capital demand by SMEs, as well as investors’ growing awareness of financing and investment channels. In 2014, we see the equal growth, however, there will be fierce competition and we expect to see a major reshuffling of the industry in the coming months.