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At one point in June last year, Zeng Jinpeng was more than 10,000 yuan in debt to a smart phone app.

英语试题 03-10
At one point in June last year, Zeng Jinpeng was more than 10,000 yuan in debt to a smart phone app. The 23-year-old Shanghai citizen pays for his online purchases of food, clothes, and travel with Huabei, a virtual credit card that's part of Alibaba Group Holding Ltd.’s spreading stable of e-commerce. His spending often used to go beyond his only source of income: the 8,000-yuan monthly allowance from his parents. He tried to repay the debt in installments, even borrowing from Jiebei, another Alibaba-owped credit service, but eventually his mother and father had to help him out.
Zeng's story is typical of members of China's Generation Z. These young consumers, born from the mid-1990s to the early 2000s, have little income and therefore actually no credit history. Yet they have easy access to credit from an assortment of banks, financial-tech companies, and peer-to-peer  (P2P) Jenders (网络借贷平台), plus other channels that are unregulated. The spending habits of the young in particular are causing concern. In some cases the younger generation is being tempted to overconsume via credit secured through technology. Unsecured consumer leading has expanded 20% a year in China since 2008.The amount of consumer finance available through the Internet will more than double, to 19 trillion yuan, by 2021, from 7.8 trillion yuan last year. Official data showed that almost 70%.of China’s 50 million P2P borrowers were younger than 40.
As for Zeng, he's trying to be a little more frugal, even though he is now trying to earn a little by himself. "I deliberately set the credit limit at a lower level," he say, "so that hopefully I can better match my income with spending."
Regulators(监管部门)last year launched a breakdown on peer-to-peer lending, which, besides being a source of easy credit, had also become a popular investment vehicle. The sector has shrunk to less than half its peak size as a result of forced shutdowns.
8. What can we learn about Zeng Jiapeng from the first paragraph?
A. He was in debt because he bought smart phone app.
B. He liked purchasing on the app Huabei of Alibaba Group.
C. He always spent more than he earned from his salary in the past.
D. He depended on his parents to support him to repay his debt.
9. Which of the following words best describes China's online consumer finance?
A. Crazy. B. Hopeless. C. Controlled. D. Reasonable.
10. What does the underlined word "frugal" in Paragraph 3 probably mean?'
A. Impractical. B. Hardworking. C. Avoiding waste. D. Relying on others.
11. Which of the following can be the best title?.
A. Overconsumption—A Bad Habit B. China’s Generation Z—Hooked On Credit
C. Chinese Youth In the E-commerce Age D. Zeng Jinpeng’s Financial Crisis
【答案】
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