“Can a former P2P giant survive China's post-P2P regulatory regime by becoming Ping An's SMB credit-facilitation arm?”
Founded 2011 as China's second-largest peer-to-peer lender under Ping An Group. After Chinese regulators began winding down the P2P industry in 2019-2020, Lufax pivoted hard to become a 'retail credit facilitation' platform focused on small business owners — partnering with licensed banks and trusts to originate loans rather than matching individual lenders. Dual-listed on NYSE (2020) and HKEX (2023). Today operates primarily as an SMB lending facilitator with a residual wealth-management marketplace, all within China; no cross-border embedded finance footprint.
Lufax's lending and capital products are provided by Ping An Puhui (in-house).
Lufax is founded in 2011 and headquartered in Shanghai, China.
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