Chinese banks rejected nearly US$144 billion in loans last year using credit scoring system, central bank says

//Chinese banks rejected nearly US$144 billion in loans last year using credit scoring system, central bank says

Chinese banks rejected nearly US$144 billion in loans last year using credit scoring system, central bank says

Chinese banks used the government’s new centralised credit scoring system to reject loan applications worth nearly 1 trillion yuan (US$144 billion) last year, the People’s Bank of China reported Friday, showcasing that its deleveraging campaign to reduce high debt and risky lending is succeeding.In total, 21 banking institutions rejected loan applications worth 911.7 billion yuan (US$131.7 billion) from “high risk” customers, while also receiving alerts on outstanding “high risk” loans worth 1…

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By | 2019-06-14T12:15:05+00:00 June 14th, 2019|Business|Comments Off on Chinese banks rejected nearly US$144 billion in loans last year using credit scoring system, central bank says