Financial products keeping step with surging demand

Sector's development boosts credit and spending growth while heading off risks

Wang Qianqian earns 6,000 yuan ($890) a month as a high school administrator in Shanghai. But the prohibitive cost of big-ticket items such as the new iPhone XS has not been a problem for her.

A regular user of consumer credit service Huabei, Wang has been indulging in the embedded camera that takes more professional photos, and paying for the gadget in 24 monthly installments.