Beijing struggles to defuse anger over Chinas P2P lending crisis

For Wang, the Beijing investor, the pain is acute. He and his family had invested 7 million yuan – their life savings, with which they had planned to use to buy a home at the end of the year – in two P2P platforms that have shut down.

They recovered none of their investment.

“We are financial refugees, not mobsters. The only thing we want is to get back our money, at least a portion of it,” said Wang.