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Gen Z is Driving China's Installment Consumption with Low Consumer Leverage, Report Finds


SHENZHEN, China, April 19, 2019 /PRNewswire/ -- China's 149 million Generation Z (Gen Z) has increasingly become the driving force behind the country's installment consumption market, spending more rationally than usually perceived, according to a survey released by Southern Metropolis Daily, a renowned Chinese newspaper, at Lexin Partner Conference 2019.

As consumption becomes the biggest engine of China's economy, the country's short-term consumer loan balance has also risen, reaching RMB8.8 trillion at the end of 2018, having increased by a multiple of 70 times over the past 14 years, according to The People's Bank of China. Young consumers are the primary drivers behind this trend.

Titled "New Youth, New Consumption," the survey covered 2,319 respondents in China with input from installment e-commerce platform Fenqile, who assisted in carrying out the survey among its customers. 

The key findings from the report are as follows:

Gen Z Drives installment consumption

China's young consumers are more rational than they are usually perceived

Buy now, pay later, and be positive

About LexinFintech Holdings Ltd.

LexinFintech Holdings Ltd. is a leading online consumer finance platform for educated young adults in China. As one of China's leading financial technology companies, Lexin integrates its e-commerce-driven installment finance platform, Fenqile, with advanced risk management technologies, the Company's Dingsheng asset distribution technology platform, and the Company's Juzi Licai online investment platform for individual investors, to create a comprehensive consumer finance ecosystem. The Company utilizes technologies including big data, cloud computing and artificial intelligence to enable the near-instantaneous matching of user funding requests with offers from the Company's more than 30 funding partners, which include commercial banks, consumer finance companies, and other licensed financial institutions.

For more information, please visit http://ir.lexin.com.
To follow us on Twitter, please go to: https://twitter.com/LexinFintech.

For media inquiries, please contact:
Limin Chen
Tel: +86 (755) 3637-8888 ext. 6993
E-mail: [email protected]

SOURCE LexinFintech Holdings Ltd.


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