An overview to introduce the evolving regulatory regime for P2P lending in China. It reviews the government's reactions towards the explosive growth of P2P lending. It specifically addresses the filing, licensing and business compliance requirements for P2P lending.

Following a comprehensive clean-up of the industry and the regulatory regime having been refined, the number of P2P platforms has dropped to zero by mid-November 2020, according to a statement made by the CBIRC's chief lawyer at an annual finance conference on 27 November 2020. This signals a complete shut down on all P2P lending businesses in China.