China's "pawn shops" have loaned $43B, mostly secured by real-estate

In reports of China's looming debt crisis, it's common to see references to the "shadow finance" or "shadow banking" system, but it's not always clear what these terms mean. Read the rest

As Chinese P2P lending bubble bursts, "investors" mob Chinese sports-stadiums used as temporary processing centers

China has (had) the world's biggest peer-to-peer lending industry, with $190B lent by 4.1m "investors" to 4.3m borrowers across 1,836 services. Read the rest