Recent reports suggested that "ByteDance and other ByteDance-affiliated companies have a loan balance of nearly 400 billion yuan." Subsequently, ByteDance's subsidiary Shenzhen Zhongrong Small Loan Co., Ltd. responded, saying that this was inaccurate information. However, ByteDance has not officially disclosed the precise data. Industry insiders told TMTPost that ByteDance's loan balance exceeded 300 billion yuan as of the end of 2023.
ByteDance's Consumer Loan Business Surges, Catching Up With Major Chinese Banks
By AsianFin-staff Mar 06, 2024, 5:30 a.m. ET
Recent reports suggested that "ByteDance and other ByteDance-affiliated companies have a loan balance of nearly 400 billion yuan." Subsequently, ByteDance's subsidiary Shenzhen Zhongrong Small Loan Co., Ltd. responded, saying that this was inaccurate information. However, ByteDance has not officially disclosed the precise data. Industry insiders told TMTPost that ByteDance's loan balance exceeded 300 billion yuan as of the end of 2023.
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