Chongqing Bank Halts Co-Lending with Meituan and JD, Retains Only WeBank Risk-Sharing Model
Chongqing Bank has discontinued three personal internet loan products—Meituan's "Shenghuofei" and "Shengyidai" and JD.com's "Jintiao"—while retaining only the "Weilidai" product with WeBank, which uses a joint funding and risk-sharing model. The move, seen as a first among city commercial banks, distinguishes between co-lending (where the bank bears most credit risk) and co-investment models. The adjustment comes as the bank's retail loan portfolio shrank 8.43% year-to-date to 88.55 billion yuan and its retail non-performing loan ratio rose to 3.32% as of June 30, 2026. The change coincides with the upcoming first anniversary of China's "Auxiliary Loan New Regulations" effective October 2025.
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Common ground
- All agents agree that Chongqing Bank's decision to drop Meituan and JD products while keeping WeBank's Weilidai is driven by the shift to a 50-50 risk-sharing model, which protects the bank's balance sheet.
- There is agreement that the bank's retail loan portfolio shrank 8.43% and its non-performing loan ratio hit 3.32%, indicating financial pressure.
- All acknowledge that WeBank's complaint volume of 103,300 in 2025, a 77% increase year-over-year, is a significant data point, though they disagree on what it means.
Points of contention
- The Neutral Agent argues the move is a defensive, desperate bet due to deteriorating fundamentals, while the Eastern Agent sees it as a calculated, strategic consolidation of a maturing fintech ecosystem.
- The Eastern Agent claims WeBank's willingness to share risk proves superior underwriting, but the Neutral and Regional Agents counter that it reflects WeBank's larger balance sheet and negotiating leverage, not better risk models.
- The Regional Agent insists the decision is politically driven by Beijing's push to consolidate around state-aligned champions, while the Neutral and Eastern Agents argue it's based on financial logic and risk-sharing terms, not political compulsion.
- The Eastern Agent defends WeBank's complaint growth as a result of improved regulatory transparency, but the Neutral Agent contends it signals a deteriorating product experience, as complaint growth outpaces user growth.
Blind spots
- All agents focus on the bank's perspective and ignore the borrowers' reality—factory workers and small shopkeepers in Chongqing's interior who took out high-interest loans out of necessity and now face shifting debt traps without relief.
- The debate overlooks whether the 24% interest rate cap, while lower than US payday rates, still traps vulnerable people in cycles of debt, and whether alternative credit models exist that don't rely on extracting maximum interest.
- None of the agents address the long-term systemic risk of concentrating credit risk around a few state-aligned champions like WeBank, which could create a too-big-to-fail problem in China's digital finance sector.
WorldAttention’s read
Chongqing Bank's decision to drop Meituan and JD products in favor of WeBank's Weilidai is primarily a defensive move to protect its balance sheet through a 50-50 risk-sharing model, as its retail loan book shrinks and non-performing loans rise. While the Eastern Agent frames this as strategic consolidation of a maturing fintech ecosystem, the Neutral Agent sees it as a desperate bet on a partner with rising complaints, and the Regional Agent views it as political alignment with state-backed champions. All sides agree the bank is under financial pressure, but they disagree on whether the move is prudent or risky. A key blind spot is the human cost: borrowers in Chongqing's interior, who took out loans at 24% interest out of necessity, are not helped by this shift—they just face a different lender. The debate highlights that without debt relief or alternative credit models, the system manages risk for financial institutions while leaving vulnerable borrowers trapped in debt cycles.
Reporting timeline
Chongqing Bank Halts Three Online Loan Products, Retains Only Risk-Sharing Model
Chongqing Bank has updated its personal internet loan product list, marking three products—Meituan 'Shenghuofei', Meituan 'Shengyidai', and JD 'Jintiao'—as 'stopped distribution'. The only retained product is 'Weilidai', a joint-loan product with WeBank, explicitly labeled as 'co-investment (non-auxiliary loan)'. This move, seen as a first among city commercial banks, draws a clear line between auxiliary loan (zhudai) models, where the bank bears most credit risk, and co-investment models where risk is shared proportionally. The decision comes as the bank's retail loan portfolio shrinks 8.43% year-to-date and its retail non-performing loan ratio rises to 3.32%. The adjustment coincides with the upcoming first anniversary of China's 'Auxiliary Loan New Regulations' (effective October 2025), which mandate stricter management of internet loan partnerships. Analyst Wang Pengbo from Botong Consulting notes the industry is moving toward 'fine screening' and that non-compliant institutions will gradually exit, with the sector expected to stabilize after compliance rectification.
Chongqing Bank Halts Three Assistance Loans, Retains Only Risk-Sharing Product
Chongqing Bank has updated its personal internet loan product list, marking three products—Meituan 'Shenghuofei', Meituan 'Shengyidai', and JD 'Jintiao'—as 'stopped distribution', while retaining only 'Weilidai' (co-funded with WeBank) as a 'co-funded (non-assistance loan)' product. This move, seen as a first among city commercial banks, draws a clear line between assistance loans (where the bank bears most credit risk) and co-funded loans (where partners share risk proportionally). The bank's retail loan portfolio is under pressure, with retail loans shrinking 8.43% year-to-date and the retail non-performing loan ratio rising to 3.32%. The adjustment comes nearly one year after China's 'assistance loan new regulation' took effect in October 2025, which requires banks to manage platform operators and credit enhancement service providers via a list system. Analyst Wang Pengbo from Botong Consulting notes that the industry is moving toward 'fine screening' and that non-compliant institutions will gradually exit. Chongqing Bank's approach—stopping assistance loans while keeping co-funded ones—may be adopted by peers, but its ability to compensate for self-operated and customer acquisition shortcomings remains to be seen.
Chongqing Bank Halts Three Co-Lending Products, Retains Only Risk-Sharing Model
Chongqing Bank has updated its online personal loan product list, marking three products—Meituan 'Shenghuofei', Meituan 'Shengyidai', and JD 'JinTiao'—as 'stopped distribution'. The only retained product is 'WeiLiDai', a joint-loan model with WeBank, explicitly labeled as 'co-investment (non-co-lending)'. This move, seen as a first among city commercial banks, draws a clear line between co-lending (where the platform bears little credit risk) and joint-investment models (where risk is shared proportionally). The decision comes as the bank's retail loan portfolio shrinks 8.43% year-on-half to 88.55 billion yuan, with retail non-performing loans rising to 3.32%. Analyst Wang Pengbo from Botong Consulting notes that the broader co-lending industry is undergoing a 'fine screening' process, with resources concentrating on top platforms. The adjustment coincides with the upcoming one-year anniversary of China's 'Co-Lending New Regulations', which mandate banks to manage platform operators and credit enhancement service providers through a list system. Chongqing Bank's approach of retaining risk-sharing models while exiting pure co-lending may be adopted by other banks, though its long-term impact on self-operated and customer acquisition capabilities remains to be seen.
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Chongqing Bank Retains WeBank's Weilidai as Only Online Consumer Loan Product
Chongqing Bank has discontinued three personal internet loan products—Meituan 'Shenghuofei', Meituan 'Shengyidai', and JD.com 'Jintiao'—while retaining only the 'Weilidai' product from WeBank, according to its latest personal internet loan product information table. The partnership with WeBank dates back to 2015, when the two banks signed a strategic cooperation agreement. Unlike typical loan facilitation models, the cooperation involves joint funding and risk-sharing, with both banks independently conducting risk control. The article notes that Weilidai has a lower maximum interest rate (21.6%) and longer maximum loan term (50 months) compared to Meituan's products (24% and 36 months). The decision comes as Chongqing Bank faces pressure in its retail banking business: as of June 30, 2026, its retail loan principal fell 8.43% year-on-year to 885.54 billion yuan, while the retail loan non-performing loan ratio rose to 3.32%. The analysis suggests the bank prioritizes risk control over scale growth, viewing WeBank as a stable partner despite WeBank's high complaint volume of 103,300 in 2025, mainly related to Weilidai and Weiyedai products.
Read sourceChongqing Bank Retains WeBank's WeLidai, Drops Meituan and JD Products
Chongqing Bank has discontinued three personal internet loan products—Meituan's 'Shenghuofei' and 'Shengyidai', and JD's 'Jintiao'—while retaining only WeBank's 'WeLidai' (微粒贷) product, according to its latest personal internet loan product information table. The bank's partnership with WeBank dates back to 2015, when they signed a strategic cooperation agreement. Unlike typical loan facilitation models, the two banks jointly fund loans and share risks, with each handling its own portion of lending, interest invoicing, dispute resolution, and collections. The article notes that WeLidai has a lower maximum interest rate (21.6%) and longer maximum loan term (50 months) compared to Meituan's products (24% and 36 months). The decision comes as Chongqing Bank faces retail loan portfolio pressure: as of June 30, 2026, its retail loan principal fell 8.43% year-on-year to 885.54 billion yuan, while the non-performing loan ratio for retail loans rose to 3.32%. The bank's reliance on WeBank is attributed to WeBank's large customer base of over 440 million individuals and 3.7 trillion yuan in assets under management, though WeBank received 103,300 complaints in 2025, mainly about WeLidai and Weiyedai products.
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