Fintech unicorn Lufax considers shedding peer-to-peer lending business

By Wu Yujian and Lin Jinbing Chinese fintech unicorn Lufax Holding Ltd. is considering shedding its once high-flying but controversial peer-to-peer (P2P) lending business as it considers a public listing, but no final plan has been set, Caixin learned. P2P lending, which used to be a boon for individuals and businesses in urgent need of money, has come under intensified government scrutiny in recent years amid a spate of fraud cases, which were