China | Crackdown looms for China's online loan sharks
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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