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China Just Killed Its $491 Billion Private Loan Marketplace

Often you’ve surely got to wonder just what Beijing’s priorities are: assisting smaller businesses weather the Covid-19 storm or victory that is taking. The message to your personal banking globe is uncertain.

Beijing has vowed to slice the price of borrowing, as well as its latest target is personal loans. Asia’s Supreme Court ordered interest levels on personal financing, including microcredit, pawnshop loans, and online peer-to-peer lending, to be lowered around 10 portion points. Continue reading