Report gives thumbs up for online financing

Online financing is outperforming financing services offered by bricks-and-mortar channels, bringing more positive effects to loan seekers despite concerns over high risks of bad debt on Internet platforms, a report said on Tuesday.

The report was jointly released by Boao Review, Nielsen Holdings Plc and Tencent Holdings Ltd at the annual Boao Forum for Asia, being held this week in Boao in Hainan province.

It used three measures - accessibility, availability and profitability - to evaluate the performance of online financing and came up with a China Financial Internalization Index that now stands at 108.5.