Loans extended by banks via online platforms have swollen to 1.43 trillion yuan, the PBOC says. Photo: Kyodo Loans extended by banks via online platforms have swollen to 1.43 trillion yuan, the PBOC says. Photo: Kyodo
Loans extended by banks via online platforms have swollen to 1.43 trillion yuan, the PBOC says. Photo: Kyodo

Ant Group

Business /  Banking & Finance

What China’s clampdown on online microlending means for fintech giant Ant Group

  • CBIRC and PBOC issued draft rules for online microlenders on Monday, days before Ant makes its public markets debut
  • Rules could crimp profits of online lending platforms, analysts say

Topic |   Ant Group
Alison Tudor-Ackroyd
Alison Tudor-Ackroyd

Updated: 9:33pm, 3 Nov, 2020

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Loans extended by banks via online platforms have swollen to 1.43 trillion yuan, the PBOC says. Photo: Kyodo Loans extended by banks via online platforms have swollen to 1.43 trillion yuan, the PBOC says. Photo: Kyodo
Loans extended by banks via online platforms have swollen to 1.43 trillion yuan, the PBOC says. Photo: Kyodo
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