China's Ant says to not issue loans to minors, prevent loans flowing into stocks, property

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China's Ant Group on Friday said its consumer loan platforms will not issue loans to minors, and will prevent small business loans from flowing into stock and property markets.

FILE PHOTO: A sign of Ant Group is seen during the World Internet Conference in Wuzhen, Zhejiang province, China, November 23, 2020. REUTERS/Aly Song/File Photo

BEIJING - China’s Ant Group on Friday said its consumer loan platforms will not issue loans to minors, and will prevent small business loans from flowing into stock and property markets. The group’s credit-rating service Zhima Credit will also not be available to financial institutions including micro loan lenders, it said in a statement about financial self-discipline rules on its platforms.

 

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Ly

haha, not bloody likely. ant's was made to do specifically that

What’s the legal age to borrow in China ?

The group's credit rating service Zhima Credit will not be available to financial institutions .

This scheme was developed in order to control the world's finances.

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