ChinaBusinessOpinion

Crackdown looms for China’s online loan sharks

Regulators poised to rein in sector amid concerns about rampant consumer borrowing and excessive interest rates as high as 1,000%

November 14, 2017 5:08 PM (UTC+8)
Online micro-lending has boomed in China but only about a quarter of credit providers are believed to have licenses. Photo: iStock
Online micro-lending has boomed in China but only about a quarter of credit providers are believed to have licenses. Photo: iStock
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