Caixin
Sep 11, 2018 10:17 AM
FINANCE

China’s Consumer-Finance Industry Posts Slower First-Half Growth

Consumer walks by Shanghai store operated U.S. luxury goods seller Coach. Photo: VCG
Consumer walks by Shanghai store operated U.S. luxury goods seller Coach. Photo: VCG

Several of China’s biggest licensed consumer-financing companies posted slower profit and revenue growth for the first half amid tightening regulation of the cash loan market and a decline in household income growth.

First-half results were mixed for the 14 licensed consumer-finance enterprises that have reported out of 26 industry players. Merchants Union Consumer Finance Co., Mashang Consumer Finance Co. and Industrial Consumer Finance Co. all posted net profit of more than 100 million yuan ($14.6 million) for the first six months of 2018.

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