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Mar 29, 2021 · The predatory lending of a Northwest China gang led to the criminals illegally pocketing 2.8 billion yuan ($428 million) and driving 89 people to commit suicide, according to a recent state media report.
Aug 21, 2020 · China’s highest court slashed the ceiling on interest rates for private loans protected by law by more than a third, part of a broader government strategy to stamp out usury and lower financing costs for small businesses and individuals.
Mar 29, 2021 · A gang of loan sharks in China caused the deaths of 89 people after the crime ring hired debt collection companies to harass and intimidate borrowerswho had no feasible avenue to pay off...
Sep 29, 2021 · China hands out at least twice as much development money as the US and other major powers, new evidence shows, with most of it coming in the form of risky high-interest loans from Chinese...
Aug 5, 2020 · China’s efforts to curb predatory lending to the country’s small and medium-sized enterprises could harm the sector rather than helping it by cutting off access to crucial finance, analysts ...
Jul 27, 2024 · The police have arrested 40 people in a four-day crackdown on illegal debt collection gangs, with the proceeds associated with loan shark activities exceeding HK$30 million. The 32 men and eight women, detained in a series of raids across the city between Monday and Thursday, were accused of criminal activities such as splashing red paint on ...
Mar 30, 2021 · Caixin China Biz Roundup: $430 Million Loan Shark Scandal Shines Spotlight on Predatory Lending In today’s episode: how a gang’s dodgy dealings contributed to the suicides of 89 people; Huawei secures a foothold in the fintech sector after grabbing a digital payments license; and Bilibili’s underwhelming public debut in Hong Kong
