Caixin
Sep 04, 2018 10:38 PM
FINANCE

As Consumer Credit Surges, Analysts Ask: Where’s the Spending Boom?

Houses under construction are seen in Huaian, Jiangsu province, on Sunday. Photo: VCG
Houses under construction are seen in Huaian, Jiangsu province, on Sunday. Photo: VCG

* Concerns mount that bank loans are being funneled into risky, speculative investments in property and online lending

* Postal Savings Bank executive said regulators are continuing to keep watch over the use of consumer credit and will order banks to call in loans if they find any wrongdoing

(Beijing) — China’s efforts to curb growth in corporate debt and rein in “shadow banking” have pushed the country’s banks to focus on boosting loans to individuals — the half-year earnings reports of listed lenders show consumer credit has been booming.

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