Share of problematic P2P lending platform issues in China 2020, by type
In 2020, 41 percent of issues related to problematic P2P lending platforms in China were related to a platform operator that ran off. The second most common incident were customers experiencing issues withdrawing their funds. A lack of regulation of the peer-to-peer lending industry caused a sharp expansion of the number of platforms. However, after the introduction of stricter rules, many platforms became unable to operate. In 2019, almost 3,000 lending platforms became entangled in the problematic incidents shown in this statistic.