A lack of a single accepted standard, like FICO, is hampering access to credit for some 500 million potential Chinese borrowers.
| less than a minute read
A Missing Piece in China’s Economy: Consumer Credit Ratings
Get in touch
.jpg)
Get in touch
That’s not good for China’s economy, as the government looks to consumer spending to provide more of the fuel for growth. And, as a rash of online lenders mushroom to fill the void left by state banks that won’t lend to most consumers, regulators say a viable credit-scoring system is increasingly critical as a safeguard against the risk of widespread defaults.
Get in touch
Get in touch
