P2P sites are clicking with borrowers

Online financing industry gets more support from investors, reports Zheng Yangpeng.

China's peer-to-peer lending platforms have emerged quickly. Unfortunately, so have the risks associated with such enterprises. Media reports have told of bosses of P2P firms disappearing after the lenders failed to give investors promised returns.

But industry insiders said such stories, though exposing hidden risks for China's burgeoning investors, lack basic financial risk literacy and understate the huge opportunities and progress the sector has brought to the nation's often bloated financial service industry.