科研成果详情

Internet finance products have been considered as one significant driving force in China's economy since they emerged. This paper is an attempt to explore the essence of internet installment payment, to analyze the interest rates of various internet financial products, including but not limited to credit cards, second-hand cars and new cars. It also surveys and compares the declared interest rates of several popular platforms and their 'effective annual interest rates'. The results suggest that the 'effective annual interest rates' is usually much higher than what platforms have declared. Such dedicated difference between the 'effective annual interest rates' and what the platforms declared can easily mislead customers to make a decision. The paper aims to articulate such dedicated differences so that borrowers and regulators can have more insights into the business strategy and make wiser decisions.