Core Viewpoint - The prevalence of "AB loans" is increasing, despite previous media exposure of scams associated with them, indicating a shift towards a more complex version of these loans, referred to as "AB loan 2.0" [1][2][18]. Group 1: Understanding "AB Loans" - "AB loans" are essentially consumer loans from banks or financial companies, but are manipulated by intermediaries to bypass standard risk assessments [7][8]. - Intermediaries often collaborate with clients who have poor credit to present a friend as a legitimate borrower, creating a facade of compliance [3][6]. - The rise of "AB loans" can be attributed to the deteriorating creditworthiness of potential borrowers, as evidenced by increasing non-performing loan rates in major banks [11][12][15]. Group 2: Market Dynamics - The loan market is experiencing a downward trend in borrower quality, with many previously eligible clients now facing difficulties in securing loans due to high debt levels or past delinquencies [11][15]. - The pressure on banks to maintain loan growth amidst a sluggish housing market has led to a more lenient approach towards intermediaries, allowing for the proliferation of "AB loans" [20][22]. - The shift in lending practices has resulted in a contradiction where online lending is tightening while offline channels are becoming more reliant on intermediaries, leading to a compromise in risk management standards [28][30]. Group 3: Characteristics of "AB Loans" - The most susceptible loan products to become "AB loans" are those targeting salaried individuals, particularly in stable employment sectors like state-owned enterprises [26]. - The digitalization of loan applications has simplified the process, making it easier for intermediaries to facilitate "AB loans" without extensive documentation [26][28]. - The current market environment reflects a tension between the need for loan growth and the necessity of maintaining stringent risk controls, resulting in a paradoxical increase in "AB loans" [29][30].