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The Impact of Coronavirus on Chinese Consumers

The Impact of Coronavirus on Chinese Consumers

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FintechNews Roundup
··1 min read

Early data coming out of China shows an increase of loans that are past due; According to Bloomberg, overdue credit-card debt increased about 50% from the year prior; Qudian, a lender in Beijing shared that their delinquency ratio increased to 20% in February from 13% at the end of 2019; other lenders have paused their credit-card business altogether; it is estimated that 8 million people in China lost their jobs in February;  Martin Chorzempa, a research fellow at the Peterson Institute for International Economics in Washington stated, “These issues in China are a preview of what we should expect throughout the world.” Bloomberg also shares debt levels from other countries across the globe. Bloomberg

  • Emily Donato

    With efforts in many different areas of the team, she helps manage, organize and execute digital and event content. She works with webinars, podcasts, social media along with managing the hundreds of speakers that attend our conferences. Emily was a part of the Zimmerman Advertising Program at the University of South Florida. She graduated in 2019 receiving a Bachelor of Science in Business Advertising.

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