Lufax Chairman Gregory Gibb Addresses Internet Finance and P2P Lending at the Boao Forum for Asia Annual Conference
SHANGHAI, March 27, 2015 /PRNewswire/ -- Lufax, China's largest and most innovative online platform for financial asset exchange, announced today that its Chairman and CEO, Gregory Gibb, addressed internet finance and P2P lending on a panel at this year's Boao Forum for Asia ("BFA") annual conference.
"I am honored to have participated in the 2015 BFA conference. This year's theme 'Asia's New Future: Toward a Community of Common Destiny' is particularly relevant to what we are doing at Lufax," said Gibb. "Scarcity of funding for individuals and small and medium sized companies is a common challenge faced in China and the rest of Asia, and I believe internet based financial asset exchanges represent a viable solution to this problem."
As the largest online platform for financial asset exchange in China, Lufax offers a broad set of peer-driven financial services that are at the forefront of consumer lending, commercial banking and investment banking services for individuals and businesses. As of March 2015, Lufax has 7 million registered users with nearly half a million active retail investors. The Company's innovative platforms have helped hundreds of thousands of people and businesses in China obtain short-term personal loans, and fund entrepreneurial endeavors.
Currently, eighty percent of Lufax's borrowers are from tier-two, tier-three and tier-four cities in China, while two thirds of the Company's lenders are from tier-one cities such as Beijing, Shanghai, Guangzhou and Shenzhen. By connecting borrowers with lenders, Lufax helps rebalance the supply and demand of capital flow in China. The Company's marketplaces also add liquidity to secondary capital markets, enhance asset utilization through financial product innovation, and lay the foundation for a transparent credit rating and risk management system in China.
"Authorized by the Shanghai municipal government, we operate our business abiding by the highest regulatory and industry standards," Gibb continued. "Through implementing sophisticated risk management protocols, state-of-the-art IT systems, and global-standard corporate procedures, our business has grown steadily over the years, and we continue to gain the trust of Chinese investors. Going forward, our strategic goal is to build an open and robust platform that provides not only P2P products and traditional financial products such as funds and insurance, but also non-standard financial products from third-party financial institutions. "
About Boao Forum
Inaugurated in 2001, Boao Forum for Asia ("BFA") is a high-level annual forum for leaders from governments, businesses and academia in Asia and other continents to share their visions on key issues in Asia and the world. BFA is committed to promoting regional economic integration and bringing Asian countries close to their development goals. An estimated 80 senior government officials, 65 chairmen of boards and CEOs and 132 regional managers across Asia from Fortune Global 500 companies attended the 2015 forum.
About Lufax
Shanghai Lujiazui International Financial Asset Exchange Co., Ltd. ("Lufax"), operates China's largest online platform for financial assets exchange, connecting investors with borrowers with great credit. Through its best-in-class technology, broad set of financial products and industry-leading risk management, Lufax has revolutionized the way individuals, companies and financial institutions in China lend and borrow money. Last year, total transaction volume on Lufax platforms grew 10 times to more than US$43.3 billion. As of March 2015, Lufax has 7 million registered members and nearly 500,000 active retail investors. For more information, please visit www.lu.com
SOURCE Lufax
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