Cash lending business has increasingly become an indispensable and important part of modern financial economy. For financial institutions and debtors, moderate lending is beneficial to both parties and even social and economic development. However, in recent years, the situation of this credit model has been deteriorating. A survey has pointed out that the debts of some Hong Kong people, especially young people, are on the rise. increasingly prevalent. If the situation continues to deteriorate, a debt crisis could be triggered at any time.

Material 1: Summary of the program content of “The Sonorous Episode – Debt Bubble”

Lending ads are ubiquitous as there are more and more finance companies on the market. A recent survey shows that 75% of young people continue to borrow money for high consumption even though they are heavily in debt. According to the latest figures from the HKMA, the number of unpaid cards has risen to 19.2 billion yuan; the delinquent write-offs reached 440 million yuan, 32% more than the same period last year; borrowing money is easy, even pawnshops and second-hand stores operate finance companies.
The program interviews professionals related to financial lending and analyzes the relationship between the industry’s ecology and social development. Even though financial companies are regulated by the “Money Lenders Ordinance”, the regulations are lax, and financial companies lack self-discipline. It’s a toothless tiger again, how can we improve it? There are different cases in the programme to show the actual situation of the current lending habits in Hong Kong and the feasible solutions and suggestions.