China Is Said to Start New Round of Checks on P2P Lenders

The video discusses the Chinese government's regulatory actions on P2P lending platforms, focusing on self-review queries and involvement of local financial regulators. It highlights the crackdown on shadow banking and the challenges faced by P2P firms promising high returns. The video also covers the increase in defaults and the regulatory aim to shrink the market, leading to a smaller but more stable industry.

What are the implications of the record number of defaults in the P2P lending space?

In what ways might the regulatory actions lead to a smaller P2P lending industry?