Chinese Banks Launch Innovative Loans Backed by Data Assets

Chinese banks are ushering in a new era for the digital economy by launching loans that use borrowers’ data assets as collateral.

This innovative financial product is in line with businesses and regulators wish to assign tangible value to the vast amounts of data generated in today’s digital commercial world.

Leading the charge, the Xiamen branch of the state-owned China Construction Bank recently granted a 3.5-million-yuan ($486,000) data asset loan to an auto service digital platform startup, Caixin learned from the bank.