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Under the arrangement reported by state media this week, some college students have agreed to send photos of themselves naked, holding their nude cards, to potential lenders. In exchange, they became eligible for higher loan amounts — two to five times the normal sum, the state-run Beijing Youth Daily reported.

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Lenders tell the students they will publish nude photos online if the loans are not repaid on time, often at usurious interest rates. Jiedaibao is a platform where individuals china often friends and acquaintances — can lend or borrow money, striking their own arrangements.

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Within four months, the debt she china more than doubled. After being threatened by the lenders, she had to ask her family for money to avoid having her nude photos published online. Others had less sympathy for people who engage in online lending.

Why you spend the money that you have no ability to earn?

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JD Capital Co is a Beijing-based venture capital and private equity firm that was founded in China's university exam cheats may face seven years in jail.