China’s Internet Firms Cautiously Revive Consumer Lending Amid Beijing Push

Beijing: China’s leading internet companies are cautiously stepping back into the consumer-lending market, signaling a subtle shift in government policy after years of stringent regulation. Firms such as Ant Group, WeBank, Meituan, and ByteDance are reviving loans to consumers, carefully balancing growth opportunities with regulatory compliance.

Following the 2020 crackdown on platform-based finance, which included the halting of Ant Group’s initial public offering, fines, and restructuring mandates, the Chinese government’s focus has slowly evolved. Authorities are signaling a more accommodative stance, encouraging responsible consumer borrowing to stimulate domestic consumption while maintaining oversight to prevent financial risk. Industry insiders describe the current regulatory env