Closer Look: High-tailing It Out of Ordos

By staff reporter Wang Ziwu

(Beijing) – Lenders in the wealthy Inner Mongolian mining city of Ordos known as "mobile banks" are finding cash streams from local residents that once ran like a rushing river are now drying up.

And now, lenders are thinking of running away.

"Mobile banks" in Ordos typically charge a monthly interest rate of two to five percent. Mrs. Li is one of those "mobile bank" lenders.


"My clients always find me. When I bring in a higher return on an investment, then my reputation spreads and more come to me." However, lenders like Mrs. Li often have little formal knowledge or experience in investment.

You've accessed an article available only to subscribers
Share this article
Open WeChat and scan the QR code
404 Page - Caixin Global
404 Page

Page Not Found

We're sorry,we seem to have lost this page.


Back to