 Ezubao, a website launched by Yucheng Group in July 2014 purporting to offer P2P services, was shut down in February 2016 by authorities who described it as a Ponzi scheme.Ezubao took in 50 billion renminbi from 900,000 investors.In China, in 2016 there were more than 4,000 P2P lending platforms, but 2,000 of them had already suspended operations.