A consumption revolution led by youngsters is underway in China. According to the China Consumer Young People Debt Status Report released by Nielsen in November 2019, the total credit product penetration rate of China’s young adults between 18 and 29 reached 86.6 percent. The average debt-to-income ratio was 41.75 percent, and the monthly real debt repayment-income ratio stood at 12.52 percent. The Nielsen report added that Chinese people born in the 1990s and 2000s are expected to drive the country’s, even global consumption in the next five to 10 years. Customer credit services are flourishing in China among young adults due to the progress in fintech, e-commerce, the mobile payment revolution as well as easy access to internet loans. However, irrational consumption has become an increasingly irksome problem for young adults. It is urgent to crack down on online loan sharks that are facilitated by consumer finance platforms.