Market size of the P2P lending industry in China 2014-2020
In 2019, the market value of the Chinese peer-to-peer lending industry reached 1.97 trillion yuan and was forecasted to reach 2.25 trillion yuan by 2020. After reports of scams and bad lending practices in the P2P lending industry increased, the Chinese government started to implement strict regulations on the platform operators. As a result, the number of platforms had decreased significantly over the past years.