Default in our stars: China’s banks use satellites to track assets with sky-high scrutiny

With bad loans and repayment collateral in focus, Chinese banks are increasingly using satellites to evaluate their clients’ terrestrial assets, mounting a hi-tech offensive to safeguard against rising credit risks. China Merchants Bank and Shanghai Pudong Development Bank started making use of satellites this year, following a 2022 launch by Ping An Bank and a 2020 move into satellite remote-sensing technology by Zhejiang E-Commerce Bank. Furthering the trend, the Postal Savings Bank of Chin...

By Ralph Jennings