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BUSINESS & TECH

Microlending Risks Grow

As of late September, Chinese microlenders had $146.13 billion in outstanding loans, according to figures compiled by China’s central bank. Photo: Visual China
As of late September, Chinese microlenders had $146.13 billion in outstanding loans, according to figures compiled by China’s central bank. Photo: Visual China

China’s microlending sector has grown explosively in the past year — and so have the risks.

The industry targets borrowers like students and small businesses traditionally excluded from the financial system.

As of late September, there were 8,610 companies offering microloans in China, and the total value of outstanding loans was 970.4 billion yuan ($146.13 billion), according to figures compiled by the central bank.

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