94 million online loans

Source:Xinhua-Global Times Published: 2018/9/16 21:03:40

Online loans worth 116 billion yuan ($16.97 billion) had been registered by the end of August on a unified platform operated by an industry association in China, amid a nationwide campaign to reduce financial risks.

The volume was up 18 percent from a month earlier, the National Internet Finance Association (NIFA) said. The platform, established in June 2017, recorded 94.31 million lending deals submitted by 66 online agents, which involved a total of 3.6 million borrowers.

NIFA wants all intermediary financing agents to register deals they have brokered on the single platform.


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