 On January 4, 2015, Chinese Premier Li Keqiang pressed the "Enter" key on a computer terminal at the Shenzhen Qianhai WeBank, initiating the company's first-ever loan, of RMB 35,000 (US $5600), to a truck driver named Xu Jun.Eschewing traditional bank practices, WeBank bank has no physical branches or outlets, and does not rely on property guarantees.Instead, it grants loans through face recognition technology and big data credit ratings.