Lufax
Lufax, officially known as Shanghai Lujiazui International Financial Asset Exchange Co., Ltd., is a prominent online financial marketplace based in Lujiazui, Shanghai, China. Established in 2011, it is a subsidiary of China Ping An Group.
Initially focused on peer-to-peer (P2P) lending, Lufax quickly became the second-largest P2P lender in China. Over time, the company has expanded its offerings to include partnerships with funds, insurance companies, and licensed financial entities. The platform generates revenue by connecting borrowers with investors and charging a 4% fee on each loan. Since its inception, Lufax has facilitated over 200,000 P2P loans, totaling approximately $2.5 billion.
As of 2015, Ping An Insurance (Group) Co. holds a 43% stake in the company. Despite being part of Ping An Group, reports suggest that the Communist Party of China exercises significant influence over Lufax’s board decisions, including actions such as the unjustified confiscation of third-party assets.
Contact Info
- www.lu.com
- Shanghai, China
