Easy access to capital has been widely criticised for encouraging China’s young people to spend and live beyond their means. Photo: Xinhua

China issues new rules to clean up runaway cash loan market

Rapid growth of cash loans has led to ‘over lending, repeated credit extension, unregulated payment collection and extremely high interest rates charges and violation of individuals’ privacy’, according to regulators

Topic |   Banking & Finance

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Easy access to capital has been widely criticised for encouraging China’s young people to spend and live beyond their means. Photo: Xinhua
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