Nov. 5 at 2:26 PM
$QFIN $XYF $LX $FINV $YRD
Yiren CEO comments at Deutsche conference:
From the consumer lending in China, I would say it’s that there is quite a lot of regulatory headwinds since in since April, as the government announced they will enforce the the rate cap on the consumer lending.
So that is in effect from October. So and so far, last weekend, I think the government make the announcement that they will rather relax on their regulation a little bit just to give the industry to to better adopt the new environment. So so that we see as positive.
But at the same time, we see the overall credit risk cycle have bottomed in the fourth quarter of this year. As monitor the numbers in October and September, we are seeing it’s trending the risk is trending down. So that will be positive for us
