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China’s fintech sector grows fast amid tighter regulations: report

China’s fintech sector grows fast amid tighter regulations: report
22
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Driven by the increased availability of third-party platforms, online financial services in China have seen rapid growth amid tightened regulations, Moody’s Investors Service said in a recent report.  Total outstanding consumer credit in China totaled 36 trillion yuan (US$5.2 trillion) as of the first half of 2018, with mortgage loans accounting for 67 percent, credit cards for 17 percent, and third-party platforms a combined 15 percent, according to economic data provider CEIC.

Read the full story at https://www.shine.cn/biz/finance/1812116502/

SOURCE: SHINE

(22)

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