Rong360.com, an online financial searching platform, together with a dozen of other online financing platforms, has founded China's first online lending association (OLA) to boost online lending.
The 1.0 online lending era has already begun in China, said Li Yinghao, vice president of Rong360.com's risks control unit.
According to Rong360.com's report, small-sum lending firms and banks are the major suppliers of inclusive financial services, accompanied by burgeoning peer to peer (P2P) lending platforms with an aggregate turnover of over 300 billion yuan in the first half year.
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