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SCMP Reporter

Money will no longer be a barrier for those on the mainland wishing to have extensive cosmetic surgery as two financial institutions have now teamed up to offer unsecured loans to anyone looking to go under the knife.

But the  offer has been slammed as 'ridiculous' by a prominent Beijing-based sociologist.

The Citic Industrial Bank and the Chengdu Rongzhong Credit Guarantee Company have joined forces to offer loans of up to 50,000 yuan for cosmetic surgery.

Applicants will not need collateral to obtain a loan, and will only be required to put down 5 per cent of the total cost of surgery.

Ma Donghui ,  of the Chengdu  firm, said it was not trying to promote the cosmetic surgery craze on the mainland, 'but the marketing potential for companies offering loans for cosmetic surgery is huge'.

'China has entered an era of man-made beauty,' Mr Ma said. 'Just look at all the ads in the tabloids these days. With our credit guarantee service I hope more girls, especially college graduates or job seekers, can realise their dream of becoming beauties.'

Xia Xueluan  ,  a sociologist at Peking University, strongly condemned the loans-for-surgery scheme.

'It's really ridiculous that they should provide loans for a nose-job or other cosmetic surgery. I strongly recommend that loans instead be offered to those who need surgery to cure diseases,' he said.

'They only see the immense marketing potential,'  he added. 'Yes, it is a business opportunity. But I don't think the plastic surgery industry should be encouraged.'

The scheme would be piloted in Chengdu, Mr Ma said, before going  nationwide. Under the arrangement, the Chengdu company will guarantee loans given by the Citic Industrial Bank ranging from 2,000 yuan to 50,000 yuan.

In addition to the loan repayments and interest, the borrowers will have to pay the guarantee company a fee of 3 per cent of the total amount borrowed. Loans should be paid off in instalments over  six months to two years.

'This will make expensive cosmetic surgery easily affordable for many people,' Mr Ma said.

While cosmetic surgery has surged in popularity in recent years on the mainland, the professional standard of many of those performing the operations is notoriously low. Reports  say that more than 200,000 botched operations have been performed  over 10 years.

The lending companies  do not expect to be held in any way responsible if they lend money for operations that are not successful.



Can't afford a nose job? Get a bank loan