Gongzi Qianbao

Gongzi Qianbao, operated by Beijing Shenzhou Rongxin Technology Co., Ltd., was a prominent internet finance company in China, launched in 2015. It functioned as a P2P lending marketplace, primarily targeting students and young white-collar workers by offering them small-to-medium-sized consumer loans. For investors, it offered a platform to fund these loans in exchange for interest returns. The company's mission was to provide accessible and efficient micro-financing solutions. However, the platform collapsed in 2018 during a nationwide crackdown by the Chinese government on the P2P lending industry, which was plagued by fraud and mismanagement.