Bad loans were at the core of the 2008 financial crisis, so it makes sense that lending may be the banking function that changes the most over the next 10 years, particularly as peer-to-peer lending platforms claim that they can make smarter loans faster and more cheaply than conventional banks. So will banks get ‘ubered’ by these peer-to-peer lending start-ups? A match that pits old and anxious institutions with high capital withholding requirements against young, tech-savvy, and lightly regulated start-ups might sound like a foregone conclusion, but some analysts say the outcome is not as certain as it appears. So what does the future hold?
The government has finally issued guidelines to regulate China’s internet finance industry, but the devil may lie in the yet-to-come details.
In this series on The Chinapreneurs, we look at entrepreneurs’ experiences in starting a business in China. In the first one, Kevin Zhao, CEO of Wangli Bank, elaborates on starting up in China’s fast-changing internet finance sector.
The week that was: China may trump the US to become the world’s largest economy soon; the Chinese P2P lending sector to get new regulations; Xiaomi shells out a cool $3.6 million for a two-word domain name. China to be the World’s Largest Economy Soon For the last decade pundits have been prophesizing that China is […]