As of November 2011, China’s microfinance industry reportedly included 4,144 microfinance institutions with CNY 23 billion (USD 3.6 billion) in profits and CNY 369.4 billion (USD 58 billion) of outstanding loans. Outstanding loans reportedly increased by 11.2 percent from the previous year while profits rose by 17 percent. The Chinese government has been encouraging the development of the microfinance industry, and the People’s Bank of China (PBOC) reportedly intends to optimize credit structure further and place more emphasis on small and microenterprises.
By Ariana Malushi, Research Associate
Sources and additional resources
China Daily: “China Has more than 4,000 Micro-finance Companies”
http://www.chinadaily.com.cn/usa/business/2012-01/10/content_14414813.htm
MicroCapital.org Story, June 21, 2011, “MICROCAPITAL BRIEF: After Farmers Reject Bank Cards, China’s Harbin Bank “Cash Caravans” Bring Microfinance to Villagers”
https://www.microcapital.org/microcapital-brief-after-farmers-reject-bank-cards-china’s-harbin-bank-“cash-caravans”-bring-microfinance-to-villagers/
MicroCapital.org Story, May 16, 2011, MICROCAPITAL BRIEF: Observers: Chinese Government Should Help Foreign Investors Navigate Microfinance Sector
https://www.microcapital.org/microcapital-brief-observers-chinese-government-should-help-foreign-investors-navigate-microfinance-sector/
Browse the MicroCapital Universe and add your entry to the wiki at: https://www.microcapital.org/microfinanceuniverse/
Similar Posts:
- MICROCAPITAL BRIEF: Tingo Mobile Launches Visa Card, TingoPay Super App, Business Portal in Africa
- MICROCAPITAL BRIEF: AgCelerant, Bank of Africa, IFC to Support Rice Value Chains in Senegal with Access to Loans, Insurance, Tools, Inputs
- MICROCAPITAL BRIEF: AIA Commits $200m to LeapFrog Investments Seeking Positive Social, Environmental Impact
- MICROFINANCE PAPER WRAP-UP: “Impacts of Microcredit Access on Climate Change Adaptation Strategies Adoption and Rice Yield in Kwara State, Nigeria,” by Adejoke Yewande Bakare et al
- MICROCAPITAL BRIEF: Liberation Community Finance Expanding Branch Network, Product Lineup for Farmers, Women, Youth in Uganda