Nude Photo+IOU: China’s Latest Internet Finance Craze

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A new wave of Internet finance is raging across university campuses in China. More and more female students are borrowing money with nude photos or videos as collateral.

Any female students can apply for quick loans ranging RMB500 (US$76) to RMB50,000 (US$7,603) if she supplies all the documents, including nude photos or videos while holding her real ID card and her mobile phone number bundled to her ID number.

China Money Network

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Nina Xiang is the co-founder and managing editor overseeing editorial content and product development at CMN. Before founding CMN in 2011, Nina worked at BusinessWeek magazine in Beijing and Institutional Investor magazine in New York, writing about business and financial services. While in New York, she also served as part-time correspondent for Shanghai's financial television channel, China Business Network, as well as China Radio International, China's national English-language radio network.