Young people dislike big banks. But they still want consumer credit.
With the growth of online shopping in China, the number of consumers who make deferred and credit card payments is increasing sharply, especially among young people.
Personal loans surged to a record this year and are the fastest-growing U.S. consumer-lending category, according to data from credit bureau TransUnion. Outstanding balances rose about 18 percent in the first quarter to $120 billion. Fintech companies originated 36 percent of total personal loans in 2017 compared with less than 1 percent in 2010, Chicago-based TransUnion said.
VCREDIT Holdings Limited was listed on the Main Board of the Stock Exchange of Hong Kong on 21 June 2018 (Thursday) using the auspicious stock code of "2003". The company has made a generous donation of HK$1,000,000 to The Community Chest of Hong Kong on the same occasion.
VCREDIT Holdings，dubbed as the "First Share of Smart Finance," ushers in its listing on the Hong Kong Exchanges and Clearing, nearly half a year after ZhongAn Insurance, China's online insurance pioneer, went public.
VCREDIT Holdings, dubbed as the "First Share of Smart Finance," ushers in its listing on the Hong Kong Exchanges and Clearing, nearly half a year after ZhongAn Insurance, China's online insurance pioneer, went public.
According to a survey by FT Confidential Research, the analysis of data from 11 of the Chinese online lending platforms puts the average loan term since the start of this year at 144 days, or just under five months, while the average size of each loan was just under 150,000 yuan, reflecting the popularity of the platforms for securing car loans.
Company is seeking up to US$200 million from its Hong Kong market debut this month and founder Stephen Liu Sai-wang says having a clear business model and complying with laws have helped it prosper.
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