Online lending alliance to ease credit crunch of SMEs

China Daily (Europe) | Jul 3, 2020 at 2:00 AM
  • The cooperation between banks and third-party institutions in the online lending business is an effective way to make loans more accessible for small and medium-sized businesses and reduce their financing costs.
  • The regulator affirmed the cooperation between banks and third-party institutions on offering online lending services to small businesses and gave specific instructions on how to promote sound development of this business model.
  • As the regulators keep urging banks to lower lending rates for micro and small enterprises, they should evaluate banks’ performance in this regard separately from the service fees charged by third-party institutions.