CEO Min Luo (left) and chief financial officer Carl Yeung of online payday loan platform Qudian celebrate as their company’s shares start trading on the New York Stock Exchange on October 18, 2017. The company has since seen its share price tumble amid social media criticism of its high interest rates and regulatory tightening in China. Photo: AP
Joe Zhang
Opinion

Opinion

Macroscope by Joe Zhang

Why China’s online lending crisis makes liberalisation of bank interest rates more urgent

  • Joe Zhang says as many of China’s online lenders fold, a key question is whether they should continue to exist alongside banks subject to interest rate controls
  • There is also a compelling case for regional Chinese banks to rejuvenate themselves by acquiring online lenders

TOP PICKS

CEO Min Luo (left) and chief financial officer Carl Yeung of online payday loan platform Qudian celebrate as their company’s shares start trading on the New York Stock Exchange on October 18, 2017. The company has since seen its share price tumble amid social media criticism of its high interest rates and regulatory tightening in China. Photo: AP
READ FULL ARTICLE