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Proper rules for P2P lending in demand 09:00 | 28/01/2021
Chinaâs elimination of the peer-to-peer (P2P) lending model is raising concern about the shifting of these companies to Vietnam, which has yet to implement an appropriate legal framework for it.
P2P lenders may be more attractive in areas with fewer banks, but can charge extraordinary lending rates, Photo: Dung Minh
The Peopleâs Bank of China (PBOC) has issued a notification relating to increasing the legal framework to control this model.
In November, the PBOC decided to close more than 10,000 P2P lending platforms, which began operating in China as much as 14 years ago. These platforms had attracted the attention of millions of private investors.
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