Internet lending transactions surge during first six months

Internet lending transactions surged to a record during the first six months of the year in China, with the bulk of the deals made through mobile devices, according to industry reports.

Transaction volumes of Internet lending from January to June totaled 300.6 billion yuan ($47 billion), while that for the whole of 2014 was 252.8 billion yuan, according to data from Wangdaizhijia, a portal that provides Internet lending information.

Wangdaizhijia said there were 2,028 Internet lending platforms in China by the end of June, up 28.8 percent compared with the levels by the end of last year.