MICROCAPITAL BRIEF: Number of Microfinance Institutions in China Hits 4,282

The government-owned People’s Bank of China reportedly stated that the number of institutions disbursing microcredit in the nation rose 64 percent to 4,282 from December 2010 to December 2011. The total amount of microloans disbursed grew from approximately CNY 120 billion (USD 19 billion) in 2010 to CNY 193 billion (USD 30.6 billion) in 2011, and the amount of outstanding microloans increased from CNY 197.5 billion (USD 31.4 billion) to CNY 391.5 billion (USD 62.2 billion).

This increase is attributed to the Chinese government having encouraged lenders to loan more money to small enterprises. The bank reportedly pledged in December 2011 to further improve credit structure and place more importance on microenterprises in the coming years.

By Charlotte Newman, Research Associate

Sources and Additional Resources:

China Daily: “Number of China’s Micro-Lenders Rise 64%,” http://www.chinadaily.com.cn/bizchina/2012-02/20/content_14651575.htm

MicroCapital.org story, January 24, 2012, “MICROCAPITAL BRIEF: Microfinance Institutions in China Report $58b in Outstanding Loans,” https://www.microcapital.org/microcapital-brief-microfinance-institutions-in-china-report-58b-in-outstanding-loans/

MicroCapital.org story, February 13, 2012, “MICROCAPITAL BRIEF: China’s Leshan Bank Establishes ‘Pickle Bank’ in Sichuan Province, Disbursing Microfinance Loans to Producer Groups,” https://www.microcapital.org/microcapital-brief-chinas-leshan-bank-establishes-pickle-bank-in-sichuan-province-disbursing-microfinance-loans-to-producer-groups/

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