Home / China

Apple pursuit lures 20,000 students into high-interest loans

By Xinhua in Wuhan | China Daily | Updated: 2013-03-22 07:03

More than 20,000 college students have taken high-interest loans to buy fancy electronic products, mostly Apple devices, in Wuhan, the capital of Hubei province.

From the start of January 2012 to the end of February 2013, the students applied for loans with a total value of 160 million yuan ($25.7 million) from Home Credit China (HC China), a subsidiary of international investment business PPF Group.

"We have lost touch with about 100 of them, getting no response to calls or letters reminding them about delayed payments," said Liu Mingwei, Wuhan regional manager of HC China.

Apple pursuit lures 20,000 students into high-interest loans

Today's Top News

Editor's picks

Most Viewed

Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349