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Outsourcing to Debt Collection Agencies Behind 51 Credit Card Police Raids

The recent police raid of 51 Credit Card's Hangzhou office was prompted by the fintech company's use of debt collection agencies that made recourse...

Fintech Platform 51 Credit Card Raided by Hangzhou Police

A leading Chinese fintech company has been raided by police in the southern tech hub of Hangzhou. Hangzhou police staged a raid of the...

51 Credit Card Enters Comprehensive Strategic Cooperation with CITIC aiBank, Releases “T+” Plan

Chinese credit card company 51 Credit Card (51信用卡) is teaming up with Baidu-backed direct lender CITIC aiBank (百信银行) to cooperate on fintech strategies. 51...

51 Credit Card (51 信用卡)

51 Credit Card (51信用卡) (2051-HK) is an online credit card issuance and management company that was first founded in Hangzhou and is listed on...

Non-performing Credit Card Debt Rises amongst Chinese Banks During First Half of 2020

Chinese banks have seen a sizeable rise in non-performing credit card debt in the first half of 2020, as the COVID-19 pandemic took its...

China’s 51 Listed Banks Had NPL Ratio of 1.6% at End of 2019

A new report from the China Banking Association (CBA) sheds light on the health of China's listed lending institutions as of the start of...

China Construction Bank’s Credit Card Users Exceed 100 Million

Big state-owned lender China Construction Bank (CCB) has announced that the number of its credit card users has exceeded the 100 million threshold. CCB...

Tencent Teams up with Visa, Guangfa Bank to Launch China’s First Foreign Currency Credit Card

Tech giant Tencent has teamed up with Visa and China Guangfa Bank (CGB) to issue a collaborative credit card that can process foreign currency...

Growth in Chinese Bank Credit Transactions Hits Five Year High of 24.9% in 2018

China's credit card numbers and credit card transaction amount both saw surging growth in 2018. Data from the "China Bank Card Industry Growth Blue...

Per Capita Bank Card Ownership in China Hit 5.46 in 2018, Average Card Spending at 12,200 Yuan

A new report from the Chinese central bank on the domestic payments points to an ongoing rise in per capita bank card ownership. The "2018...