lending industry

Private lending firms in China have been going bankrupt one after another. The bankruptcies have prompted mass protests by thousands of people who have lost their savings or are now victims of fraud. Many of the firms had been taking advantage of lax or ineffective government regulations to siphon off the cash.

Private lending firms in China have been going bankrupt one after another. The bankruptcies have prompted mass protests by thousands of people who have lost their savings or are now victims of fraud. Many of the firms had been taking advantage of lax or ineffective government regulations to siphon off the cash.