Eloancn.com ad debuts on CCTV's prime time slot

Eloancn.com, one of China's leading P2P service providers, launched a 15-second advertisement on the most expensive prime time slot on China Central Television (CCTV) on Sunday.

It is the first time that the most prime time advertisement (right after the CCTV News Broadcast) bid was won by an Internet finance company, and is a sign of the booming development of China's Internet finance industry.

The transaction volume of China's P2P market stood at 328 billion yuan in 2014, while in the first ten months of this year, the volume has surpassed 1 trillion yuan.

Eloancn.com is the only Internet financial P2P platform in China targeting the rural market, said Wang Sicong, president of eloancn.com.

Since its foundation in 2007, the company had issued about 10 billion yuan of loans to over 100,000 rural households. Its network through joint operators covers over 300 prefecture-level cities, 1,500 counties and 10,000 villages and towns.

After Legend Holdings made a strategic investment into eloancn.com last November, the company saw great improvement in channel expansion and management, said Wang.

The company's accumulated transaction volume exceeded 15 billion yuan in October and it is predicted to surpass 20 billion yuan by the end of the year.