Lufax ADRs have had a bumpy ride since the fintech giant listed in October as investors digest fast-evolving fintech regulation in China. Photo: Reuters
China’s online lender Lufax recalibrates business model as regulators clamp down on Big Tech lending
- Lufax has lowered annual percentage rates (APRs) on loans to 24 per cent and made sure its services are unbundled
- Lufax to raise credit exposure to 20 per cent by end June; checking with regulators if ‘skin in game’ must rise to 30 per cent
Lufax ADRs have had a bumpy ride since the fintech giant listed in October as investors digest fast-evolving fintech regulation in China. Photo: Reuters
