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Installment consumption habits of Generation Z in China are driving the whole nation towards a new consumption model. And it doesn’t seem like the model is going to die down in the coming decades.
Since the beginning of this year, micro-lenders under five Chinese internet giants, namely Tencent, ByteDance, Baidu, Meituan and JD.com, have been successfully approved to issue ABSs amounting to 39.33 billion yuan ($5.4 billion).
Huabei and Jiebei, two micro-loaning platforms of Ant Group, have launched a quota management function to advocate rational consumption.