China’s consumer credit market will almost double to 24 trillion yuan by 2025, according to Oliver Wyman. Ant Group has the largest share of the market with 16 per cent, followed by Tencent-backed WeBank with less than 5 per cent, according to the data. AdvertisementBaihang credit has financial data on 85 million people, obtained from more than 1,700 financial institutions, and has a customer base of almost 1,000 companies, according to its latest report.Personal credit ratings will also be a boon for Chinese banks whose dud loans have been spiking after advancing a record amount of new loans this year to battle the coronavirus pandemic. …
