Low interest consumer credits are booming in China, tells retail analyst Shaun Rein at WSJ. Ten years ago credit cards did not exists and consumers would even a few years ago purchase BMW’s by bringing cash. But despite the boom bad credit is no issue yet, he says, as limits are touch compared to the US.
“I talked to a millionaire who has a limit on his Chinese credit cards of US$20,000, while he can spend a million on his US card,” Shaun Rein explains. Most users are young people, who now buy cars and other big item products on cheap credit, rather than pay upfront, like they used to do a few years ago.
Shaun Rein is a speaker at the China Speakers Bureau. Do you need him at your meeting or conference? Do get in touch or fill in our speakers’ request form.
Is China’s internet back to ‘normal’. That is the question the China Weekly Hangout will address on Thursday 25 April. In December we looking into the dreadful internet connections so many companies and individuals were suffering from, when even the VPN‘s came under attack. We hoped that would inprove after the power transfer to Xi Jinping and his crew would be completed. Has that happened, and how do people on the ground expect the internet will serve them?
You can read our announcement here, or register directly at our event page for participation.
Below our December 20, 2012 session with participation of Sam Xu, John R. Otto, Gabriel Rueck and Fons Tuinstra; are the recent hiccups just tests? Has China a kill button for the internet and will it use it? Or will there be a two-class internet, one for corporate users, and one for home users?
Related articles
