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The factional struggle behind opening up Hainan; P2P liquidations point to debt crisis

SinoInsight 1 On July 6, Renrenaijia Financing, a Hangzhou-based peer-to-peer (P2P) lending platform, announced that it was going out of business on its website. Renrenaijia had total investments worth 23.2 billion yuan and 1.736 million users. Three days before Renrenaijia shut shop, niubangold.com, another P2P lender based in Hangzhou whose total transactions reached 39 billion …

Read moreThe factional struggle behind opening up Hainan; P2P liquidations point to debt crisis

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