Monday, July 29, 2019

Lending / 

Jack Ma’s $290 billion loan machine is changing Chinese banking by caixin

Using real-time payments data and a risk-management system that analyzes more than 3,000 variables, Ma’s four-year-old MYbank has lent 2 trillion yuan ($290 billion) to nearly 16 million small companies. Borrowers apply with a few taps on a smartphone and receive cash almost instantly if they’re approved. The whole process takes three minutes and involves zero human bankers. The default rate so far: about 1%.

The implications of MYbank and its peers growing more comfortable with smaller borrowers could be profound. Nonstate enterprises -- mostly small businesses -- account for about 60% of growth, employ 80% of workers, and have been disproportionately squeezed by a more than two-year government crackdown on shadow lenders.

Thursday, July 11, 2019

enjoy ma's journalists annual report China Internet Report reveals how tech firms have gone from copycats to trailblazers
10 Jul, 2019 - 11:29 pm
The China Internet Report 2019 offers insight into key China technology trends, with deep dives into 11 key sectors and expert commentary from industry leaders.