Careless on the Chinese campus

Proliferation of consumer finance channels online and their targeting of university students, who usually do not hold credit cards, in a bid to gain new customers and market share have led to tribulations and tragedies on campuses in China.

The most shocking incident involved Zheng Dexing, 21, a student of the Henan University of Animal Husbandry and Economy. He jumped to his death off a hotel building on March 9, unable to repay 589,500 yuan ($89,320) he had borrowed from various online lending platforms.

In a sense, Zheng's death can be linked to the internet-driven easy consumer finance market that makes it possible for young adults to avail credit beyond reasonable limits, often by exploiting loopholes and poor checks in the system.