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Internet lending platform P2P "cat and mouse game"
August 24, 2016 China Banking Regulatory Commission (CBRC) promulgated the Interim Measures for the Administration of Business Activities of Information Lending Institutions through Internet Loans, which sets the maximum loan balance for the same borrower at the same credit institution and different online credit institutions: A single individual, a single natural person in a platform loan limit is 200,000 RMB, a single organization, legal person loan limit on a single platform is 100 0,000 RMB, a single natural person in multiple platforms, the loan ceiling is 100 0,000 RMB.
Due to compliance difficulties, most platforms cease operations. Statistics show that there have been 1038 problem platforms since 2017, with 358 platforms taking the initiative to liquidate and exit, accounting for 35% of the total.
At the request of the borrowing limit, most of the major standard-based platforms have been rectified. Most of the larger business platforms in the limit aspect meet the basic regulatory requirements.
In order to circumvent the "borrowing limit", there are also some platforms take their risks. Although some platforms do not exceed the quota limit on the surface of a single subject, they involve situations in which one project is split into multiple targets and the actual borrowing balance of a single borrower exceeds regulatory requirements.
Recently, a random sample of more than 50 online loan platforms in all regions of the country was conducted. The amount of borrowings was checked and found that most of the platform quotas were in good condition. However, there were still 15 platforms suspected of over-issuing the mark, accounting for nearly 30% of the total.
At present, a number of regions in the country have issued the "Debit Recognition and Rectification Requirements of Information Loans of Internet Loans."
   
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