In Depth: Want a Loan? Forget the Bank, China’s Tech Giants Are at Your Service

Click into some of China’s most popular apps these days and you’ll soon be drowning in adverts for loans.

“Borrow up to 200,000 yuan ($28,590) through Meituan’s special loan service with a daily interest rate of less than 0.02%”…. “Important reminder! The interest rate on a Didi loan is lower than what you’re paying on your credit card payments. Click here for more …”