CHINA PRIVATE BORROWING
In China, private borrowing consists of an alternative loan solution available from a Chinese private lender or a Chinese private investor to a Chinese borrower who does not want to use a Chinese bank.
In China, the private loan plays a role of financial assistance to the Chinese consumer by giving him access to Chinese private funds without using traditional financing channels.
In China, private financing comes in two forms of financing, the first using private contacts to find a Chinese private lender, and the second using a peer-to-peer platform that brings together Chinese and Chinese borrowers.
In China, private borrowing must be well analyzed before using it because many Chinese borrowers have been scammed by trusting lenders who in fact were not lending any cash.