Comment on Lending Club Co-founder Established Shanghai-based P2P Funding Service Dianrong by Dianrong, P2P Funding Site Led by Lending Club Cofounder, Pockets Fresh Investment for Market Expansion - TechNode

['Emma Lee', 'More Emma Lee', '.Wp-Block-Co-Authors-Plus-Coauthors.Is-Layout-Flow', 'Class', 'Wp-Block-Co-Authors-Plus', 'Display Inline', '.Wp-Block-Co-Authors-Plus-Avatar', 'Where Img', 'Height Auto Max-Width', 'Vertical-Align Bottom .Wp-Block-Co-Authors-Plus-Coauthors.Is-Layout-Flow .Wp-Block-Co-Authors-Plus-Avatar'] Comments for TechNode 2013-07-31 00:00:00

Soul Htite, co-founder of online financing bellwether Lending Club, established a similar online P2P (peer-to-peer) funding service Dianrong.com in Shanghai with an impressive management group (Marc van der Chijs, co-founder of Tudou, recently joined in its board.). The P2P online lending aims to provide more choices, easier access and transparency to clients. However, the lack of proper regulations becomes the development bottleneck for online funding industry. This move aims to prevent the credit risk of online funding services from the whole banking system. Online funding services should be regulated in terms of entry threshold, operation, taxation and withdraw process in a bid to promote the development of this sector.