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Many college students in China struggle to cover daily expenses.   © Reuters
Economy

China under pressure to target loan sharks preying on college women

Spreading problem likely to be on agenda at National People's Congress in March

MARIKO TAI, Nikkei staff writer | China

BEIJING -- China is under pressure to clamp down on loan sharks preying on young college women, and the growing problem is expected to be tabled at the National People's Congress due to kick off in March.

Communist Party mouthpiece, The People's Daily, carried an opinion piece dated Feb. 21 about the need to educate college students on the importance of money management. The piece, quoting unspecified research, said that more than 75% of college students were struggling to cover daily expenses and 39% knew someone who had borrowed money from so-called campus loan services, or xiaoyuandai.

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