#China's peer-to-peer lending industry, the world’s largest, is shrinking, BBG reports. Savers have been rushing to pull money amid a govt crackdown that's seen some platforms halted & put under police investigation. Outstanding loans dropped 26% in July to 956bn yuan ($139bn). pic.twitter.com/Eu66AZl08P
— Holger Zschaepitz (@Schuldensuehner) August 21, 2018
New deputy #PBOC governor Zhu Hexin:
China will not use strong stimulus to support the economy;
will maintain liquidity reasonably ample;
will enhance financial sector's ability to serve real economy;
will make policies more forward looking and flexible.— YUAN TALKS (@YuanTalks) August 21, 2018
https://twitter.com/RealDavidJensen/status/1031633719138824193
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