On P2P lending: be prepared for a ¥200K borrowing limit

According to reporting from the paper website, the pending Provisional measures on operations of online lending platforms includes a borrowing limit. For a natural person, the limit is ¥200k from one single platform and 1million in the aggregate; for organizations, the limit is ¥1 million from one single platform and ¥5 million in the aggregate.

Caveat: this is NOT a confirmed/released regulation, and the original news cited a person familiar with the matter. I’ll provide correction if the actual Measures is different or updates when the Measures is officially released.

See http://finance.ifeng.com/a/20160820/14780846_0.shtml

Updates from 8/21/2016