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HONG KONG, Mar 17, 2015 - (ACN Newswire) - China Huirong Financial Holdings Limited ("China Huirong" or the "Company", and, together with its subsidiaries, the "Group"; stock code: 1290.HK), a leading short-term secured financing services provider in China in terms of approved registered capital, is pleased to announce that the Group has officially launched an online "peer-to-peer" lending ("P2P Lending") platform Suzhou Money (www.suzhoumoney.com) to provide a different lending channel to complement the Group's traditional short-term collateral-backed loan business. Since the platform launched on 8th January 2015, the total transaction volume on the platform has amounted to RMB20.5 million with nearly 15,000 registered users.
Invested by China Huirong, Suzhou Money utilizes the Internet innovative technology to provide an online P2P Lending platform for third parties with funding needs (the "Relevant Borrowers") to advertise its funding requirements, and for interested third parties willing to take on the relevant risks (the "Relevant Lenders") to provide funding respectively. The actual financing time takes only 3 to 7 days on average, which is over 50% faster than the general financing service providers.
Suzhou Money has undergone a strict security testing process. Before a Relevant Borrower is allowed to advertise its funding needs on the online platform, it is required to pass certain risk assessments and provide guarantee on the loan repayment. Any funds raised from the Relevant Lenders, and the distribution/collection of monies to/from the Relevant Borrowers, are managed by a third party custodian independent from the Group. The Group earns a commission through the provision of such P2P Lending platform.
Mr. Chen Yannan, Chairman and Executive Director of the Board of China Huirong said, "The development of Internet financing has received increasing attention from the Nation, which was highly recognized by Premier Li Keqiang earlier this year. Meanwhile, China Banking Regulatory Commission has officially incorporated the Internet financing into its regulatory scope to enhance the protection for the operators and customers, showing supports to the development in the industry from the Government."
Mr. Chen added, "Internet financing is one of the core strategies for the future development of China Huirong. With years of abundant experience in providing offline financial services, the Group is constantly seeking for opportunities to diversify the business and is committed to become a comprehensive financing service provider. We believe the launch of the P2P Lending business is beneficial to the Group as the arrangement thereunder created a new income stream for the Group with minimal additional capital investment. We hope that Suzhou Money will provide efficient, transparent, secured and convenient online financing services with high yields for the micro, small and medium enterprises and individuals, as well as to help build us a solid customer base and maximize the long-term returns for the Group and shareholders."
About China Huirong Financial Holdings Limited.
China Huirong Financial Holdings Limited ("Huirong" or the "Company", and, together with its subsidiaries, the "Group"; stock code: 1290.HK) is a leading short-term secured financing service provider in China in terms of approved registered capital. The Group specializes in offering SMEs, business owners and individuals short-term loans secured by real estate, equity interest or personal property collateral. As of 30 June 2014, the Company operates in Suzhou city and the four county-level cities that are governed by the Suzhou city government, or the Greater Suzhou Area, for more than 15 years. Throughout the years, it now owns a sales network of 11 branches. With the continual growth in revenue, registered capital and loan portfolio, the Company maintains the leading position of financing service provider in Jiangsu Province and in China.
Issued by Porda Havas International Finance Communications Group for and on behalf of China Huirong Financial Holdings Limited:
Porda Havas International Finance Communications Group
Ms. Kelly Fung Tel: + 852 3150 6763 kelly.fung@pordahavas.com
Ms. Camille Xiong Tel: + 852 3150 6799 camille.xiong@pordahavas.com
Mr. Daniel Ip Tel: + 852 3150 6767 daniel.ip@pordahavas.com
Ms. Coco Cheng Tel: + 852 3150 6795 coco.cheng@pordahavas.com
Ms. Rose Guo Tel: + 852 3150 6704 rose.guo@pordahavas.com
Ms. Jessica Li Tel: + 852 3150 6702 jessica.li@pordahavas.com
Fax: +852 3150 6728
Topic: Press release summary
Source: China HuiRong
Sectors: Daily Finance
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From the Asia Corporate News Network
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