Apple's Foldable iPhone Duo Draws 16 Chinese Banks Offering Interest-Free Installments

Apple's first foldable phone, the iPhone Duo, opened preorders on the 16th and goes on sale on the 23rd, with the 256GB China model starting at 15,999 yuan and the 2TB top tier at 26,499 yuan — the highest pricing ever for an Apple handset. Sixteen banks and two payment platforms — Alipay's Huabei and WeChat — are offering interest-free installment plans, according to Apple's website and Cailian Press. Most provide three-, six-, and 12-month terms, while 17 of the 18 institutions offer up to 24 months with zero interest and fees. On the entry-level model, a 12-month plan runs about 1,333 yuan monthly; a 24-month plan cuts that to 667 yuan. Ping An Bank offers an extra 100-yuan repayment voucher and double loyalty points for orders not returned the following month. A government subsidy of 1 percentage point annualized interest on qualifying credit-card installments, capped at 5,000 yuan per customer per bank, runs through Dec. 31, 2026.