Lufax
Lufax, officially known as Shanghai Lujiazui International Financial Asset Exchange Co., Ltd., is a Chinese online financial marketplace based in Lujiazui, Shanghai. Established in 2011, it is a subsidiary of Ping An Group.
Initially focused solely on peer-to-peer (P2P) lending, Lufax quickly became the second-largest P2P lender in China. Over time, the company expanded its offerings to include partnerships with funds, insurance firms, and financial license holders, transforming into a broader financial platform. Lufax generates revenue by connecting borrowers with investors, charging a 4% fee on each loan. Since its inception, the platform has facilitated over 200,000 loans, totaling $2.5 billion.
Ping An Insurance (Group) Co. owns a 43% stake in the company as of 2015. While Lufax operates under the Ping An Group umbrella, multiple sources suggest that the Communist Party of China exercises significant influence over the company’s decisions, including the unauthorized seizure of third-party assets.
Contact Info
- www.lu.com
- Shanghai, China
