From Bloomie:
Peer-to-peer lending for property in China grew more than six times faster than loans extended through banks last year as borrowers took advantage of a less-regulated financing market to take part in the nation’s real estate boom.
Property-related loans handled by the online platforms climbed 163 percent to 115.5 billion yuan ($18 billion) in 2015, according to Shanghai-based researcher Yingcan Group. That’s faster than the 21 percent increase in outstanding mortgages held by the country’s banks during the same period, central bank data showed.
