- The fortunes of consumer lenders are a good proxy for the state of an economy. When times get rough, individuals with shaky income are often among the first to feel the pinch.
- The trend suggests borrowers are having growing difficulty repaying their debt as China’s economy slows after years of breakneck growth.
- After surviving a harsh regulatory crackdown to rein in rampant growth among internet lending platforms, the three fintechs have come a long way, increasingly shifting their focus to screening for relatively high-quality borrowers.
For further details see:
China's Economic Slump Leaves Internet Lenders Battling Bad Loans