HONG KONG -- China's top fridge maker has sold its peer-to-peer lending subsidiary for 2 yuan (30 cents) just two years after paying $200 million for it, becoming the latest company to flee the country's once-heated fintech market amid a crackdown by Beijing.
China tech
China fridge maker sells $200m fintech unit for 30 cents
Homa is latest company to flee peer-to-peer lending amid regulatory crackdown
Guangdong Homa Appliances' foray into fintech did not turn out as well as the Chinese fridge maker had hoped.
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