Dianrong Named "Leader in China's P2P Lending Segment" by U.S. Department of Commerce

SHANGHAI, Aug. 11, 2016 /PRNewswire/ -- Recently, the U.S. Department of Commerce released the 2016 Financial Technology Top Markets Report, a market analysis report on the global FinTech sector, affirming the significant role played by China's P2P lending industry that has attracted much attention and confirming the rapid growth of China's P2P lending market.

Chinese P2P lending platform Dianrong.com is specifically mentioned by the report, singled out by the U.S. Department of Commerce as a model in China's P2P lending industry, "leading the segment" of China's P2P lending market.   

The U.S. Department of Commerce report is mainly focused on analyzing the markets of five countries, including China, and it covers the various FinTech segments such as payments and crowdfunding. The purpose of this authoritative report is to unlock more export and investment opportunities for U.S. businesses.

The report points out that as the second largest economy in the world, China has a large consumer base and huge potential for FinTech development. China's FinTech market is currently focused on payments, lending and bitcoin, and the P2P lending segment has been growing rapidly. "As of the end of 2015," the report states, "P2P lending has now topped $150 billion or 982.3 billion Yuan, four times more than the amount in 2014. China's P2P lending platforms have cumulatively brokered a total of 1.37 trillion Yuan transactions as of the end of December 2015.

The report also says that, "Due to low returns in traditional bank deposits and limits on the movement of money, P2P lending has grown quickly in China," and such growth has been fueled in part by SMEs' needs for easier access to loans. The report points out that in the early development stage of P2P lending, China's lack of relevant policies led to certain issues in the industry, but regulators have released policy drafts to promote the healthy development of the industry. 

The report states that there are currently three major companies in China's P2P lending market, "with Dianrong leading the segment."

The report also cites data from Wangdaizhijia in October 2015, the monthly online lending volume of Dianrong.com reached 1.2 billion yuan, four times the level of October 2014; Dianrong.com has set up 26 offices in China, has 300,000 active lenders, and originates about one billion yuan in new loans monthly.

Dianrong.com is a well-known online lending platform and an industry leader with a technological edge over its competitors. Since its launch online in 2013, Dianrong.com has gained recognition and support from capital markets and traditional financial institutions. In August, 2015, Dianrong.com completed its Series C round of financing led by Standard Chartered Private Equity and raised US$207 million, setting a record for the largest single investment in the industry up to that time.

At the Lang Di Fintech conference that took place in China in July of this year, Soul Htite, the founder of Dianrong.com, announced that Dianrong.com will commit significant resources to the research of blockchain technology in order to apply it to the discovery of quality assets.

Regarding the future of the FinTech industries including P2P lending, "The emergence of financial technology companies," as summarized by the U.S. Depart of Commerce, "will reshape and improve finance by cutting costs and expanding access to financial services."

About Dianrong.com

Dianrong is China's leading Internet finance company headquartered in Shanghai. The company was founded in 2012 by the co-founder and former Head of Technology of Lending Club, Soul Htite, who joined efforts with Kevin Guo, a PE fund partner and lawyer from Shanghai to create the next generation financial services technology not only for China but also globally. With over 2,600 employees and 28 offices across China, Dianrong.com operates a largest online marketplace in China and provides banking solution services to financial institutions.

The online marketplace is the platform www.Dianrong.com, which facilitates personal and business loans by connecting quality borrowers to millions of potential lenders in China through powerful, easy to use and secure internet infrastructure. They use technology to lower cost of acquisitions, operations and loan servicing, and such cost benefits have been passed on to borrowers in the form of lower rates, as well as investors in the form of more attractive returns.

Banking solutions services focuses on assisting large financial institutions to transform their operations from a traditional model to a modern Internet finance enabled business. Their offering combines technology with risk management techniques on a platform that they have built and operated over the past few years.  

Since its inception in 2012, Dianrong has built a trusted brand with a track record of delivering exceptional value and satisfaction to borrowers, lenders and business partners. Dianrong has been featured widely in the local and global media, and has been named one of the most promising, fastest growing Internet companies in China.

Giants of the capital and banking market have backed Dianrong.com; it has received funding from Tiger Global PE, Northern Lights VC, Standard Chartered Private Equity Limited, Bohai Financial Investment Holding Co.,Ltd., China Fintech Fund (the fund that was founded by China Minsheng International Capital and Guangfa Investments) and Max Giant Capital Limited.

At the end of 2015, Dianrong announced the establishment of a Korean-based JV project with Hanwha Group, one of the largest conglomerates in Korea. This project signified the start of Dianrong's global expansion.

On March 15, 2016, Dianrong was elected as vice chairman unit of Association of Shanghai Internet Finance Industry. And on March 25, Dianrong was elected as the standing council unit of the National Internet Finance Association of China, being the only P2P lending company among the 48 elected standing council units. The association is the highest level national industry self-regulatory organization, initiated by the People's Bank of China.

SOURCE Dianrong.com

Related Links

http://www.Dianrong.com