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Asia Times

Covering geo-political news and current affairs across Asia

Tag: Poor Chinese

Posted inChina, Middle East, Shanghai

Crackdown looms for China’s online loan sharks

by Marc Howe November 14, 2017February 18, 2020

Online loan sharks are coming under heavy scrutiny in China, with reports that many are charging interest rates of up to 1,000% and less than a quarter comply with licensing requirements. Bloomberg reported last week that Chinese regulators are mulling a crackdown on online micro-lenders, due to concerns about a surge in consumer borrowing and […]

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