Comments on: The Quick Loans of Mr. Wang’s http://chinayouren.com/en/2009/01/04/1054 Of China changing the World Mon, 22 Mar 2010 15:03:11 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: uln http://chinayouren.com/en/2009/01/04/1054/comment-page-1#comment-244 uln Thu, 08 Jan 2009 16:42:23 +0000 http://chinayouren.com/en/?p=1054#comment-244 My references above are a bit weak. Check also this Caijing article, including the text below. You can find many references to this in China blogs and publications, and there surely must be some research work available. I would be grateful if someone points me to one. http://english.caijing.com.cn/2008-12-26/110042661.html "In Hunan, southern China, underground banks unlawfully raise funds, guarantee financing and issue high-rate loans while disguising as ordinary businesses such as pawn shops and third-party loan guarantee firms. In Zhejiang, underground banks function as “clubs” in which facilitators invite relatives and friends to join. Gradually, a fund’s size may grow until it can finance business operations. But some clubs later evolve into vehicles for financial fraud. " My references above are a bit weak. Check also this Caijing article, including the text below. You can find many references to this in China blogs and publications, and there surely must be some research work available. I would be grateful if someone points me to one.

http://english.caijing.com.cn/2008-12-26/110042661.html

“In Hunan, southern China, underground banks unlawfully raise funds, guarantee financing and issue high-rate loans while disguising as ordinary businesses such as pawn shops and third-party loan guarantee firms.

In Zhejiang, underground banks function as “clubs” in which facilitators invite relatives and friends to join. Gradually, a fund’s size may grow until it can finance business operations. But some clubs later evolve into vehicles for financial fraud. “

]]> By: uln http://chinayouren.com/en/2009/01/04/1054/comment-page-1#comment-240 uln Thu, 08 Jan 2009 10:43:26 +0000 http://chinayouren.com/en/?p=1054#comment-240 @davesgonechina - It is a well documented phenomenon. There surely must be better specialized material out there, but I just read it in general China books, like the well known "China, Inc". If you find some interesting material about it please let me know. BTW, nice blog, and nice avatar :) @davesgonechina – It is a well documented phenomenon. There surely must be better specialized material out there, but I just read it in general China books, like the well known “China, Inc”.

If you find some interesting material about it please let me know.

BTW, nice blog, and nice avatar :)

]]> By: davesgonechina http://chinayouren.com/en/2009/01/04/1054/comment-page-1#comment-239 davesgonechina Thu, 08 Jan 2009 10:13:16 +0000 http://chinayouren.com/en/?p=1054#comment-239 "There has been a lot written about the parallel financial system of China, and how, from the beggining of reform, it has helped start many family businesses." Any reading suggestions? “There has been a lot written about the parallel financial system of China, and how, from the beggining of reform, it has helped start many family businesses.”

Any reading suggestions?

]]> By: uln http://chinayouren.com/en/2009/01/04/1054/comment-page-1#comment-224 uln Tue, 06 Jan 2009 15:24:30 +0000 http://chinayouren.com/en/?p=1054#comment-224 p2p lending?? hm, I didn't know about that one. And how do they ensure that people pays back? I guess I will wait until China Observer publishes something about it.. :) By the way, this post seems to have supernatural spam attracting properties. I got already 10 pingbacks from shady websites offering me loans. Looks like "Quick loan" is only second to Viagra in the spammers list. Of course, this means a lot of people are buying too. p2p lending?? hm, I didn’t know about that one. And how do they ensure that people pays back? I guess I will wait until China Observer publishes something about it.. :)

By the way, this post seems to have supernatural spam attracting properties. I got already 10 pingbacks from shady websites offering me loans. Looks like “Quick loan” is only second to Viagra in the spammers list. Of course, this means a lot of people are buying too.

]]> By: Joel http://chinayouren.com/en/2009/01/04/1054/comment-page-1#comment-222 Joel Tue, 06 Jan 2009 09:37:24 +0000 http://chinayouren.com/en/?p=1054#comment-222 It seems like anyone who seeks out a loan provider via SMS spam is pretty foolish. Obtaining loans in China is definitely a challenge and it is easy to see how the 地下钱庄 have emerged. I think a safer, and more legal, channel for obtaining loans in China is through peer-to-peer (p2p) lending platforms. Welcome back from your trip and keep the great posts coming! It seems like anyone who seeks out a loan provider via SMS spam is pretty foolish. Obtaining loans in China is definitely a challenge and it is easy to see how the 地下钱庄 have emerged. I think a safer, and more legal, channel for obtaining loans in China is through peer-to-peer (p2p) lending platforms. Welcome back from your trip and keep the great posts coming!

]]> By: uln http://chinayouren.com/en/2009/01/04/1054/comment-page-1#comment-219 uln Mon, 05 Jan 2009 23:30:35 +0000 http://chinayouren.com/en/?p=1054#comment-219 Yes. Actually I am doing a service for the community when I post about spam sms, as I give their number away on the internet. This is my little revenge for receiving 20+ spam sms a day. Wow, I never got one of those offering weapons, if you do get one again please forward to me! Yes. Actually I am doing a service for the community when I post about spam sms, as I give their number away on the internet. This is my little revenge for receiving 20+ spam sms a day.

Wow, I never got one of those offering weapons, if you do get one again please forward to me!

]]> By: xiao lu http://chinayouren.com/en/2009/01/04/1054/comment-page-1#comment-216 xiao lu Mon, 05 Jan 2009 12:12:58 +0000 http://chinayouren.com/en/?p=1054#comment-216 Welcome back! I have received one for selling military weapon. :)) I never understood why don't some authorities take action on those spammy sms, since they leave the phone number there, same as the "Graffiti" of fake certification producers and other illegal ads posed everywhere. Welcome back! I have received one for selling military weapon. :) )
I never understood why don’t some authorities take action on those spammy sms, since they leave the phone number there, same as the “Graffiti” of fake certification producers and other illegal ads posed everywhere.

]]> By: China Journal : Best of the China Blogs: January 4 http://chinayouren.com/en/2009/01/04/1054/comment-page-1#comment-214 China Journal : Best of the China Blogs: January 4 Mon, 05 Jan 2009 05:14:48 +0000 http://chinayouren.com/en/?p=1054#comment-214 [...] of SMS spam, here is a look at a recent loan shark marketing technique. [...] [...] of SMS spam, here is a look at a recent loan shark marketing technique. [...]

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