Wealth Markets in China: Capturing the Multifaceted Growth Opportunities
Consumer lending in China has taken off in recent years, with robust growth across mortgages, credit cards, and automobile loans. Although this market is still nascent, China already represents the largest loan balance in Asia after Japan. Opportunities vary substantially by wealth and age, where the young and affluent segments have the strongest current demand and future potential. To ride the next wave of growth and develop a successful lending business, different types of lenders must understand how consumers select financial institutions (“lenders”), obtain product information, and what their pain points are. The latest BCG report sheds light on the challenges and opportunities that lenders face, and analyzes the borrowing behaviors and attitudes of Chinese consumers, the market landscape for each product line, and the outlook for both domestic and foreign competitors.