trending Market Intelligence /marketintelligence/en/news-insights/trending/0lRT4iTbIZVbMnuS3sWMkA2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

China criminalizes lending at annualized effective interest rates over 36%

Street Talk - Ep. 64: Coronavirus jumpstarts digital adoption

Street Talk Podcast

Street Talk - Ep. 63: Deal talks continue amid bank M&A freeze, setting up for strong Q4

Street Talk Podcast

Street Talk - Ep. 62: 'Brutal' outlook for oil demand offers banks in oil patch no relief

Amid Q1 APAC Fintech Funding Slump, Payment Companies Drove Investments

China criminalizes lending at annualized effective interest rates over 36%

The Chinese government is criminalizing lending at annualized effective interest rates over 36% and other predatory practices.

A person or an entity will face a jail term of up to five years for lending money to more than 10 borrowers within two years at an annualized effective interest rate of more than 36%, according to an Oct. 21 joint release by China's Supreme Court, Supreme People's Procuratorate, the Ministry of Public Security and the Ministry of Justice.

The release said, for loans that are priced below annualized effective interest rates of 36%, lenders will still be criminally liable if they lend 2 million yuan or more to a single individual and extract a profit of more than 800,000 yuan from that individual. Lenders that extend credit of more than 10 million yuan and generate a profit of at least 4 million yuan will also face a jail term of up to five years.

Lenders could also be penalized for lending money to more than 50 borrowers or providing loans that led to the suicide, death or madness of a borrower or the borrower's family members.

As of Oct. 22, US$1 was equivalent to 7.08 Chinese yuan.