30 July, Shenzhen-Hongling Capital, the earliest and also one of the biggest p2p lending platform in China, announced that platoform would exit p2p lending market in 3 years. Hongling Capital was founded in 2009 and over 270 billion CNY has been traded since then. As the pioneer in the internet p2p lending market, Hongling is a beacon to thousands of similar p2p lending websites. The news came as shocking as Bitcoin exchanges in China are more or less under the rule of same regulatory authorities.
http://news.8btc.com/chinas-earliest-p2p-lending-platform-to-exit-in-3-years-to-comply-with-regulation
