PROSPECTS AND OPPORTUNITIES
Consumer credit outstanding balance set to increase; however, at a slow pace
The consumer credit outstanding balance in China is set to see only a low increase over the forecast period, mainly due to minimal growth in demand for card lending. According to Euromonitor data, credit cards in circulation are set to continue to decrease in both 2024 and in the forecast period, with gross lending following suit.
Additional policy upsides expected for consumer credit
The financial regulators in China are likely to introduce more supportive measures over the forecast period; moves include potential monetary easing, and support for the banks, and for the housing market. On 24 September 2024, The PBOC, along with other financial regulators, announced a series of stimulus measures to boost the economy and revive consumer confidence.
BNPL expected to grow in China, supported by e-commerce players
Buy now pay later (BNPL), whilst becoming increasingly popular in other parts of the world, is still at a nascent stage in China. Nevertheless, the growth prospects remain strong for the forecast period, thanks to the wide use of electronic payment, and the popularity of online shopping.
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Overview:
Understand the latest market trends and future growth opportunities for the Consumer Credit industry in China with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Consumer Credit industry in China, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
The Consumer Credit in China report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volume and value sizes, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent research methodology, conducted in-country
This report answers:
- What is the market size of Consumer Credit in China?
- What are the major trends key to understanding Consumer Credit in China?
- How has COVID-19, recession and macroeconomic volatility impacted the market?
- How long will the market take to recover? What are the opportunities now?
- How will political context and shifting cultural values shape future growth?
- Where is future growth expected to be most dynamic?
Consumer Credit in China - Category analysis
KEY DATA FINDINGS
Tightening regulations for alternative financial service providers
Auto lending sees solid growth, supported by EV boom
Lowering interest rates set the tone for consumer credit in China
Consumer credit outstanding balance set to increase; however, at a slow pace
Additional policy upsides expected for consumer credit
BNPL expected to grow in China, supported by e-commerce players
Consumer Lending in China - Industry Overview
Consumer lending in 2024: The big picture
Lower interest rates set the direction for China
Mortgages/housing returns to growth in 2024
Auto lending sees growth, benefiting from momentum of EVs
What next for consumer lending?
DISCLAIMER
The following categories and subcategories are included:
Consumer Credit
- Auto Lending
- Card Lending
- Durables Lending
- Education Lending
- Home Lending
- Other Personal Lending
Consumer Credit
Non-mortgage consumer debt extended to individuals for personal or household use including installment loans and credit cards. Examples of consumer credit include auto lending, card lending, durables lending, education lending, home lending and other personal loans. Consumer credit includes both revolving and non-revolving credit.
See all of our definitionsWhy buy this report?
- Gain competitive intelligence about market leaders
- Track key industry trends, opportunities and threats
- Inform your marketing, brand, strategy and market development, sales and supply functions
This report originates from Passport, our Consumer Credit research and analysis database.
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