Voice of America: Cash-Strapped Chinese Turn to the Internet to Borrow Money

Voice of America Voice of America is an international news and broadcast organization serving Central and Eastern Europe, the Caucasus, Central Asia, Russia, the Middle East and Balkan countries

Cash-Strapped Chinese Turn to the Internet to Borrow Money Aug 6th 2013, 04:07, by webdesk@voanews.com (VOA News) As China's slowing growth and tightening credit draw headlines abroad, inside the country some borrowers are turning to alternative, quasi-legal lenders for cash.    On the Internet, a variety of small-scale lending websites are capitalizing on the credit crunch by offering to connect borrowers who may not qualify for conventional loans, with lenders eager to make a higher return than those offered by banks.   In just a few years, such peer-to-peer lending websites have become ... Media files: 9CB857B6-7AE6-41BC-A468-96B577AE0429_cx0_cy0_cw0_w800_r1.jpg (image/jpeg, 0 MB)

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