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China’s new microlending curbs do not address underlying issue of household debt and borrowing, analysts say

Summary:
[unable to retrieve full-text content]New rules intended to rein in China’s booming microlending market may force a number of online platforms out of business, but analysts say it will do little to curb rising household debt, nor completely stop young people from borrowing.The nation’s banking and insurance regulator seems well aware of this, to the point that it was compelled this week to issue a risk alert – imploring consumers not to fall into the trap of “uncontrolled and blind consumption” amid excessive lending from online…

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[unable to retrieve full-text content]
New rules intended to rein in China’s booming microlending market may force a number of online platforms out of business, but analysts say it will do little to curb rising household debt, nor completely stop young people from borrowing.The nation’s banking and insurance regulator seems well aware of this, to the point that it was compelled this week to issue a risk alert – imploring consumers not to fall into the trap of “uncontrolled and blind consumption” amid excessive lending from online…

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