A stone lion is seen in front of the building of China Banking and Insurance Regulatory Commission in Beijing. Photo: VCG via Getty Images A stone lion is seen in front of the building of China Banking and Insurance Regulatory Commission in Beijing. Photo: VCG via Getty Images
A stone lion is seen in front of the building of China Banking and Insurance Regulatory Commission in Beijing. Photo: VCG via Getty Images
China economy

China bans microlenders from offering consumer loans to college students to curb over-lending

  • Move will prevent some 30 million college students across the country from falling into debt traps
  • Microcredit firms can offer loans at a maximum interest rate of up to four times the benchmark rate set by the central bank

Topic |   China economy
A stone lion is seen in front of the building of China Banking and Insurance Regulatory Commission in Beijing. Photo: VCG via Getty Images A stone lion is seen in front of the building of China Banking and Insurance Regulatory Commission in Beijing. Photo: VCG via Getty Images
A stone lion is seen in front of the building of China Banking and Insurance Regulatory Commission in Beijing. Photo: VCG via Getty Images
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