[This Is the second article in a two part series on CreditEase, the world’s largest p2p lender. The first...
In an interview with CNBC, Ning Tang, CEO of CreditEase, provides insight on the China Banking Regulatory Commission’s regulation for China’s P2P lending industry; says the regulation will have positive long-term affects; focuses on the requirement of P2P lenders to work with banks as a custodian and says CreditEase has complied with this requirement for many years. Source
[Editor’s note: This is a guest post from Tharon Smith, Managing Director of LendIt China. Tharon is an expert in...
I first became aware of CreditEase back in June 2013 at the inaugural LendIt conference in New York. We met...
Ning Tang, founder and CEO of CreditEase, has received the China Financial Literacy Distinguished Contribution Award; the honor was awarded at the 2nd China Financial Literacy Annual Conference; as an institution, CreditEase was also honored with the China Financial Literacy Distinguished Contribution Award; the awards recognize Ning Tang and CreditEase for their broad commitment and contribution to financial inclusion, wealth management, fintech innovation and public financial education. Source
Ning Tang, founder of CreditEase speaks about 2016 headwinds faced by Yirendai, the company's P2P lending arm; in August, 2016 the stock declined after new rules were put in place by Chinese authorities on P2P lenders; according to Ning Tang, "We need to do more in terms of investor education and communication as most of the international investors do not have a clear understanding of China's credit market and financial innovation."; 2016 transaction volume was 20 billion yuan ($2.92 billion) in 2016; Tang eyes 100 billion yuan ($14.59 billion) by 2020; looking forward, the company plans to form closer relationships with traditional banks to reach offline customers. Source
New York-based commercial real estate developer Tishman Speyer has partnered with CreditEase Wealth Management to invest $1.4 billion in China and other countries within the next three years; according to Tang Ning, CreditEase founder and CEO, the partnership will focus on long-term development, providing clients with globalized and diverse portfolios. Source
The CreditEase Wealth Management Offshore Private Credit Fund (OPCF) has announced new investments in OnDeck and LendingHome; in 2015 the fund raised $80 million from Chinese clients, including high net worth and mass affluent investors, which it expects to be fully invested by March 2017; a $30 million investment in OnDeck and LendingHome adds to previous investments in Avant and Prosper in 2016; the firm also says it is planning to fundraise for another offshore private credit fund, OPCF II; CreditEase is targeting $200 million for this fund and its investments will likely be similar with a different fund structure, varying durations, new geographies and new types of credit products. Source
Last Friday Peter and I had the honor of joining the CreditEase team on the NYSE floor to ring the...
CreditEase was China's first P2P lender, founded in 2006; since its founding the firm has been expanding its services to wealth management and robo advice; Ning Tang, CreditEase founder and CEO, provides his insight on the business and the online lending industry in an interview; highlights how the company plans to expand its business lines through partnerships while also managing regulatory controls. Source