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Mortgages/housing witnessed a slowdown amidst tougher mortgage regulations and constantly growing interest rates. According to a report by People’s Bank of China (PBOC), gross lending in mortgages/housing saw strong declines in current value terms in 2017 and 2018, while outstanding balance posted positive, but significantly slower, current value growth.
Blue-collar workers are the next target audience for consumer finance
Blue-collar workers in second- and third-tier areas continue to show strong demand for consumer loans, but they have yet to receive adequate attention from lenders. The primary reason for the lack of coverage is that these workers lack credit profiles.
Credit scoring system starts to take off for online lending
Since 2015, PBOC has issued provisional licenses to companies and organisations like Tencent and Alibaba to develop personal credit rating systems to complement the Credit Reference Centre system. Hence, these online lending giants accumulated a large base of personal credit information by 2018.
Traditional consumer lending is shifting from offline to online
With the continued penetration of consumer credit, traditional banks are facing ever-increasing challenges. Thus, traditional banks are seeking cooperation with online financial institutions for the purposes of innovation.
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Discover the latest market trends and uncover sources of future market growth for the Consumer Lending industry in China with research from Euromonitor's team of in-country analysts.
Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.
If you're in the Consumer Lending industry in China, our research will save you time and money while empowering you to make informed, profitable decisions.
The Consumer Lending in China market research report includes:
Analysis of key supply-side and demand trends
Historic volumes and values
Five year forecasts of market trends and market growth
Robust and transparent market research methodology, conducted in-country
Our market research reports answer questions such as:
What is the market size of Consumer Lending in China?
What are the major trends set to impact the market in China?
What capacity for consumer debt still exists in the market?
What’s the state of credit quality in the market?
Has the economic downturn reset the lender competitive landscape?
Why buy this report?
Gain competitive intelligence about market leaders
Track key industry trends, opportunities and threats
Inform your marketing, brand, strategy and market development, sales and supply functions