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China P2P: no more history of a lender's blood and tears

via:CnBeta     time:2020/11/28 21:01:49     readed:179

Stumble, eventually return to dust. Since then, there has been no P2P in China. On November 27, Liu Fushou, chief lawyer of the China Banking and Insurance Regulatory Commission (CIRC), disclosed that the Internet financial risk has been greatly reduced. The number of P2P online lending institutions in operation nationwide has gradually decreased from about 5000 during the peak period to zero in mid November this year. A statement, the famous P2P has come to a dismal end.


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In June 2007, paipaipai loan, China's first online lending platform, was announced to be established. It learned from overseas P2P companies and engaged in the business of matching borrowers and borrowers.

After many years, such innovation model and business did not set off any waves in China. Because few people know what P2P is, and few people are willing to offer real money in return.

After budding, many people discovered among them "business opportunity ".

Downing is one of them. He once worked on Wall Street and joined several overseas companies to officially launch the online loan function of pleasant loan in March 2012. However, it is different from the pure matchmaking of paipaipai loan. What it does is a kind of shadow bank, which takes money from multiple borrowers, packages them and then issues products, and finally sells them to investors.

Foreign P2P, in China played a variety, from information intermediary to credit intermediary, opened a new benchmark of the network loan industry.

At that time, the market was still ignorant of P2P. However, from 2013 to 2014, a round of new policy winds came, which completely changed the situation that the industry could not break the circle.

Some Internet Financial Policies

Source: Institution

Taking advantage of the spring breeze of mass entrepreneurship, innovation and Internet finance, P2P institutions are springing up in China and blooming everywhere. In addition, the rate of return on P2P investment is generally more than 10%, or even more than 15%, and it also claims to "keep capital and interest". More and more people have joined this new financial outlet.

Venture capital institutions, entrepreneurs, and ordinary people joined the game. P2P became famous for a time and became the most beautiful boy in the Internet Financial tide at that time.

During the peak period in 2017, there were 5000 P2P online lending platforms. At the end of May of that year, the balance of online loans was close to 1 trillion yuan, and the transaction amount of that month was as high as 248.8 billion yuan.

In July of that year, the cumulative trading volume of P2P online lending industry reached 5078.2 billion yuan, breaking the 5 trillion mark, a sharp increase of 112% compared with the same period in 2016.

Human greed drives people to move from the bank P2P, because of the high returns and capital preservation. People at that time, all happy in it.


The wind stopped

If God wants to destroy man, he will make him mad first, and history is nothing new.

In 2018, the macro policy is to deleverage and add international trade frictions. As a result, a shares fell into dogs and investors suffered heavy losses. Of course, P2P is also ushered in "liquidation".

During the Dragon Boat Festival in 2018, Tang Xiaoxeng, a famous high-return platform, suddenly gave thunder, triggering the P2P thunderstorm.

The collapse of a hundred billion Ponzi scheme made everyone panic and market panic began to spread.

The first one to suffer was Lianbi finance. So far, all the "Four Heavenly Kings" of gaohui were killed.

Of course, rational investors are still not much impact, because this batch is under the banner of P2P fraud platform. However, with the explosion of mines, seemingly regular P2P also began to happen.

On July 3, niubanjin, a second tier large platform, announced that the 98 million yuan asset project was overdue. This platform has a good reputation. It fell down, which made investors panic more and began to examine the issue of "whether their principal in other platforms can come back".

The last line of defense for P2P investors is the investment house which is followed by thunder. As a well-known third-party P2P information platform, the brother platform of online loan home also had an accident. Everyone began to trample on each other and hurt each other crazily. Many people lost their money in the end.

As of the end of December 2018, there were only 1034 platforms in normal operation nationwide, and 848 problematic platforms were exposed in the whole year, an increase of 42.7% compared with that in 2017.

Investors' confidence fell sharply. Also at the end of last year, the number of active lenders and borrowers in the current period was 3.717 million and 6.02 million respectively, down from 6.865 million in December 2017 and 6.89 million in December 2017, of which the number of lenders fell significantly, a decline of 46 percent.

The number of normal operating platforms fell sharply, the number of investors fell sharply, and the turnover fell sharply. Before June 2018, the monthly turnover was about 300 billion yuan, and the collapse caused by Tang Xiaoxeng's exploding thunder had fallen to about 100 billion yuan. Less than 60% of monthly transactions, the industry as a whole cake also shrank sharply.

On January 21, 2019, a red headed document was circulated in the mutual gold circle, which roughly means that except for the strict compliance platform, other organizations should be able to withdraw and close all the relevant departments.

At that time, famous big platform also burst thunder accident one after another. On March 28,2019, the Dongguan Public Security Bureau officially announced that Tang Jun and Zhang Lin, the real controllers of the regiment loan network, surrendered themselves and the police filed an investigation on suspicion of illegally absorbing public deposits.

Group loan network is P2P absolute head platform, the cumulative transaction of more than 130 billion yuan. Its thunder, completely defeated the lender has not much investment faith.

Then, the local government made an emergency move and determined to destroy P2P.

In September, Ningxia announced the ban on P2P network lending business (the second batch) of six institutions in Ningxia.

On October 16, Hunan said it would ban 24 net loans in its jurisdiction.

October 18, Shandong Province notice will not pass the acceptance of the P2P platform to be banned.

On November 8, Chongqing banned 29 online lending platforms under its jurisdiction.

And Sichuan province will ban all P2P. on December 4

Finally, Zhejiang, Guangdong, Shanghai and Beijing, the big provinces with P2P concentration, have taken actions one after another this year. I thought that the head platform could leave dozens of companies, but I didn't expect that after the cold winter of P2P, there was no spring at all, and the only way to go was to die.

In the middle of this year, only 29 companies were still in operation.

At the end of August, there were only 15 operating platforms, down 99 percent from the beginning of 2019, lending balances down 84 percent, lenders down 88 percent, and borrowers down 73 percent.

At the end of September, the government announced again that only six were left.

In mid November, it was completely zero.


Total drop

From nothing to existence, then to prosperity, and finally to extinction, P2P may be one of the most short-lived industries. In this magnificent game, there is no winner, all losers.

Of course, the biggest losers must be the most common people. How much did you lose?

From December 23,2019 to December 31,2019, the net loan House conducted a questionnaire survey with 1090 participants and 904 effective participants.

In 2019, there are 732 P2P industry exit platforms. Among them, more than 60% of Internet lenders want to step on thunder. The number of platform lenders with 1-2 treading thunder companies is as high as 43%, and the proportion of 3-4 companies stepping on thunder is also as high as 11.8%.

In the minefield, less than 40% of the people survived the disaster, and most people inevitably became victims. Let's move on to a set of data:

More than 19.14% of them were between 10000 and 50000 yuan;

The proportion between 50000 yuan and 100000 yuan accounted for 11.99%;

Between 10 and 500 thousand yuan, the proportion is 17.03;

More than 1 million yuan, accounting for 3.76%.

If the amount of thunder is more than 1 million yuan, it is not a stupid person. Finally, a certain proportion of people are harvested, which can not be described in words P2P how much the harvest is. P2P not only aim at small, middle-class, even rich people can not run away.

The industry failed, and many investors moved their money back into the banking system. Some people are lucky, some people may be the abyss of eternal disaster, money will never come back! Some people say that P2P industry is to cut leeks, which is a history of lenders' blood and tears. That's right.

Of course, the losers of this game, as well as investors in P2P companies.

China's first P2P—— pat loan changed its name to "letter technology" in late 2019, but did not stop the capital market from diarrhea. Three years on the market, the stock price cumulative decline of 81, as PetroChina general wealth harvester.

In addition, xinerfu plummeted by 97%, credit by 93%, and micro credit network by 81%. In short, the listing of many platforms is the peak, and there will be no return.

But the vast majority of P2P companies do not know what profit is, they will face the dilemma of delisting and transformation. Interestingly, the financial project of dianniu is overdue. It has been put on file for investigation. P2P is no longer in use. Its name has been changed to bits and numbers. Recently, it has risen a lot.

The stock price is low and the market value is shrinking. Behind it is the difficulty and withering of P2P industry. So bad market performance, how many investors do you think this wave will reap!

Of course, many founders of P2P online lending platform are also losers, some of them have entered the cage, some bear the reputation and huge debt. What's more, venture capital institutions that wanted to make money in the early stage were basically wiped out by the group, but the investors' money was still wasted.

Moreover, the information platform that serves for P2P industry —— net loan home, also became loser. The industry is dead, what hope is there in the future?

P2P war, all losers.


The end

In the past, Lei Jun has a famous saying: standing on the wind, pigs can fly. This sentence was regarded as the standard by later entrepreneurs, but at the back of this sentence, "if you grow a small wing, you can fly higher" is rarely mentioned.

Once stood on the wind of P2P, no one seriously to think about the "wings" thing. Later, the policy became tight, the wind stopped, and all became victims. There was a lot of chicken feathers, and there was a lot of bike sharing in the past, but at last there were still seeds left.

Unfortunately, P2P is all dead. Perhaps, many years later, people simply can't remember the word. But the Chinese have paid trillions of tuition fees. It's really heartache. Let's keep in mind!

alas! P2P wave, do not take away a cloud

Author | Maple Leaf

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