In 2016 Q3, China’s P2P online lending market reached RMB547.02 billion in size, a jump of 20.4% compared to RMB454.15 billion in 2016 Q2, shows the Quarterly Monitoring Report on China’s P2P Online Lending Market 2016 Q3
published by Analysys.
As to the performance of market players, the Quarterly Monitoring Report on China’s P2P Online Lending Market 2016 Q3 published by Analysys shows that Hongling recorded a transaction volume of RMB17.1 billion, representing a fall of nearly 30% from RMB23.9 billion in Q2, but still ranking the first and representing 3.1% of the total transaction size, while Weidai.com displayed an obvious feature in micro loan business, realized rapid growth in the transaction size, which rose to the second in the quarter with a market share of 2.5% and slight rise compared to Q2.
In Q3, the local financial regulators completed the survey on the Internet finance at the first stage and started the clearing and remediation at the second stage, which delivered the biggest impact on the online lending industry. In August, China Banking Regulatory Commission issued the Interim Measures Regarding Administration of Business Activities of Information Intermediaries in Online Lending
, which constitutes the basic business policy for the industry and specifies the dual supervision system consisting of both the CBRC and local governments. Besides, the new policy sets the loan balance and total loan limits of one platform for borrowers. Many platforms started building the “micro and decentralized” business system and transforming towards other financial information services while weakening the P2P business in strategy. For example, Hongling sought to turn to a financial market on purpose while cancelling large bids, and PPmoney highlighted its position as a one-stop integrated wealth management platform. Analysys thinks that the online lending industry now remains at a profound adjustment stage, the market clearing speeds up, the average performance of enterprises falls short of the expectation and the actual growth rate of the market and the transaction concentration levels of the platforms still cone under certain pressure.
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