Microlending Risks Grow
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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