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Activity soars in China's P2P online lending jungle

Platforms sold record 119.6b yuan of products in October even as defaults mount, as investors hunt for higher yields


SINCE China's government announced guidelines for websites that link individual investors with borrowers, no detailed rules have been announced, activity has soared to a record and defaults are rising.

Online peer-to-peer (P2P) platforms sold a record 119.6 billion yuan (S