China’s Digital Revolution in Bank Lending
China has long recognized the importance of increasing small and medium-size enterprises' access to finance; now, online banks have found the solution the country needs. This could be a boon not only for growth and innovation, but also for broader financial inclusion – in China and beyond.
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BEIJING – China’s economy is growing at is lowest rate in over 30 years, but if the country’s nearly 40 million small and medium-size enterprises (SMEs) could overcome a lack of access to funding, they could become a powerful engine of economic dynamism. Can digital innovators close the SME financing gap?