Buy online, chill out, pay later

Big data creates profitable consumer-finance businesses aimed at perceived high-risk borrowers like collegians and young jobseekers

In an economy where growth is slowing - GDP growth in 2015 at 6.9 percent was the lowest in 25 years - and focus shifting to domestic consumption from exports, consumer lending has suddenly acquired significance in China.

The consumer finance market is projected to reach 37.4 trillion yuan ($5.75 trillion) by 2019. A recent report by iResearch Consulting Group said the Internet-enabled consumer finance segment alone is expected to reach 3.4 trillion yuan in 2019 from 6 billion yuan in 2013.