Caixin
Nov 06, 2018 08:17 PM
FINANCE

China’s Latest Financial Threat: Surging Consumer Credit

People look at models of houses at an exhibition in Huai'an, Jiangsu province on Oct. 7. Photo: VCG
People look at models of houses at an exhibition in Huai'an, Jiangsu province on Oct. 7. Photo: VCG

China’s central bank has issued a warning about the abnormally high growth in the amount of short-term consumer loans issued in China last year.

The surge in consumer credit, which has been accompanied by a rapid buildup in household debt, has sparked wide concerns about growing default risks, as well as its potential to drag on China’s economic growth in the medium term, analysts have said.

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