As of July 11, fourteen licensed financial institutions have published white lists for loan facilitation partnerships, encompassing 180 third-party collaborators. For loan facilitators, securing a spot on these lists represents more than institutional endorsement—it's pivotal for sustainable business development.

The disclosed white lists feature diverse market entities including internet traffic giants, listed fintech firms, and mid-tier platforms. Licensed financial institutions demonstrate clear preference for internet behemoths with massive user traffic, publicly traded fintech companies with robust compliance frameworks, and established industry leaders.

**01 Top Performers on White Lists** Among the fourteen institutions disclosing partners, Jinmeixin Consumer Finance revealed the most extensive network with fifty-nine collaborators. Chengde Bank maintained the simplest disclosure, naming only "select Ant Group subsidiaries" and "certain JD Group affiliates."

Disclosure methodologies vary significantly: Some institutions categorize partners by function—marketing lead generation, co-lending, payment processing, or traffic acquisition. Others adopt project-based listings. For instance, China Resources Bank detailed ten collaborative ventures including Jiayin Project, Xinye Project, and Maxiao Project, collectively involving twenty-five companies.

Thirteen enterprises appeared across five or more white lists: Immediate Consumer Finance, Chongqing Liangxin Jincheng Technology, Shenzhen Zhiling Xingchen Technology, Du Xiaoman Technology (Beijing), Jirong Yunk Information Technology, Ant Zhixin (Hangzhou) Information Technology, Ping An Rongyi (Jiangsu) Financing Guarantee, Shanghai Erxu Information Technology, Shanghai Qiyu Information Technology, WeBank, Shenzhen Fenqile Network Technology, MYbank, and Chongqing Meituan Sankuai Small Loan.

Notably, affiliated companies share common corporate ownership. Meituan Sankuai Small Loan fully owns Chongqing Liangxin Jincheng Technology. Similarly, Beijing Direction Infinite Technology, Sichuan Xincheng Technology, and Chongqing Xi'an Small Loan all operate under Didi Chuxing's umbrella.

Traffic titans and listed fintech firms dominate in frequency. The traffic giants cohort includes Ant Group, ByteDance ecosystem players, JD Group affiliates, and Du Xiaoman. Among listed fintech entities, subsidiaries of Xinye Technology, Lexin, and Qifu Technology each appeared eleven times across eight institutions. Jiayin Technology, Wechen Group, Xiaoying Technology, and Yiren Digital secured five, four, three, and two inclusions respectively.

Wechen Group warrants special attention: Beyond collaborating with Meizhou Keshang Bank for customer acquisition, its subsidiary Wechen Financing Guarantee appeared on the bank's public registry of internet loan guarantee partners.

**02 Mid-Tier Platforms Gain Breathing Room** Beyond listed companies, active platforms like Lingyue Technology (five inclusions), Weicai Digital Technology (four), and Shuhe Technology (three) secured spots. Some mid-tier players appeared just once—Samoyed Cloud exclusively featured on Jiangsu Jiangnan Rural Commercial Bank's list, while Weilai Digital's operating entity "Weiyinglian Information Technology (Shenzhen)" solely appeared in Jinmeixin's disclosure.

Article Four of the "Notice on Strengthening Commercial Banks' Internet Loan Facilitation Management and Enhancing Financial Service Efficiency" issued by the National Financial Regulatory Administration (NFRA) on April 1, 2025, mandates commercial banks to implement whitelist management for platform operators and credit enhancement providers. Banks must publicly disclose lists through official channels and cease cooperation with unlisted entities. This regulation takes effect October 1, 2025.

One loan facilitation executive noted the months-long transition period allows industry preparation, emphasizing ongoing capital partner negotiations while avoiding premature conclusions about the regulatory impact.

Xu Bei, Secretary-General of the Guangdong Microcredit Association, highlighted the regulation's core objective: capping comprehensive interest rates at 24% APR to eliminate historical practices of fee segmentation that pushed effective rates toward 36%. Consequently, institutions now enforce stricter compliance vetting, challenging firms previously reliant on segmented fee structures.

Comparative analysis reveals significant whitelist adjustments at some institutions. Yilian Bank slashed partners from fifty-six last December to nine by June 2025, omitting Samoyed Cloud, Juzi Digital Technology, and Wanda Small Loan.

A city commercial bank executive confirmed preferential treatment for market-leading facilitators with strong reputations, stable management, and substantial portfolios, while maintaining centralized oversight and moderate business scaling.

For loan facilitators, whitelist inclusion serves as dual certification of compliance proficiency and operational expertise—fundamental for securing financing, regulatory survival, and market relevance amid tightening oversight and rising partnership thresholds.

Xu Bei anticipates compressed profit margins post-implementation, predicting inevitable industry turbulence as capital consolidates around dominant players. "Pure traffic arbitrage platforms face existential tests," he cautioned.

Multiple industry sources expect severe market compression for mid-tier platforms, with some facing elimination. Financial institutions increasingly prioritize partners' brand equity and risk management capabilities—dynamics favoring conglomerate-backed facilitators. "Future competitive differentiation hinges entirely on proprietary traffic and embedded scenarios," observed one insider.

Wang Pengbo, financial analyst at Broad Consulting, notes whitelist management will intensify market fragmentation. Leading facilitators leverage compliance infrastructure, technological capabilities, and brand strength to meet institutional requirements. To maintain whitelist status, these players will reinforce regulatory adherence. Simultaneously, the framework enables financial institutions to efficiently identify partners aligning with their risk tolerance and supervisory obligations.