Ride-hailing driver at work, May 14, 2026. [Photo/VCG]
China is stepping up efforts to improve access to credit for millions of gig workers, with Ding Xiangqun, minister of the National Financial Regulatory Administration, saying the regulator will encourage financial institutions to develop dedicated, inclusive financial products for new employment groups, such as truck drivers, ride-hailing drivers, food delivery riders, and couriers, to support businesses and stabilize employment.
It was estimated that the number of flexible workers in China had exceeded 200 million, Wu Xiuzhang, vice-minister of human resources and social security, said in a report to the Standing Committee of the National People's Congress in December 2025. According to a post by the Ministry of Transport on its WeChat official account, as of Oct 31, 2024, a total of 7.48 million ride-hailing driver licenses had been issued nationwide.
The financial needs of truck drivers, ride-hailing drivers, food delivery riders, and couriers are typically characterized by small loan sizes, high frequency, and urgent demand. Because many of them lack formal employment contracts, stable payroll records, or collateral such as property and vehicles, their financing needs have long been met by risky lending channels, according to Dong Ximiao, chief economist at Merchants Union Consumer Finance and executive director of the Shanghai Institution for Finance and Development.
