As China's economy slows and defaults rise, 'bad loan' managers say they spot an opportunity to pick up bargains, because lenders are eager to shed toxic debt that might otherwise poison the broader financial system. Yet questions remain about whether these bad loan managers especially smaller private players are savvy investors in distressed assets or a risky backdoor for
China is heading toward digital financial inclusion, which has become a path that financial institutions must follow to tackle small business lending challenges, experts said.
The police department in Shangqiu, Central China s Henan Province recently cracked down on a non-fungible token (NFT) collection scam case involving more than 2.65 million yuan ($372,196.24), the Chengdu Economic Daily reported on Sunday.
China should support all market players striving to improve financial inclusion to explore more cooperation models, which follow laws and regulatory compliance, put risks under control and promote commercial sustainability, in the fields of business, technology, data and infrastructure through methods like regulatory sandboxes and the implementation of pilot programs in local areas, experts said.