Business & Finance Industry Analysis

Microfinance Industry in China

In May 2008, the CBRC and the PBOC jointly promulgated the Guiding Opinions, which sets out the fundamental requirements for establishing, registering and operating a microfinance companies at the national level. This was a significant step in advancing the industry and led to a rapid increase in government registered microfinance companies in China. In addition, through issuing The Guidance on Financial Support for Adjustment and Transformation and Upgrade on Economic Structure (关于金融支持经济结构调整和转型升级的指导意见) in July 2013, the PRC Government increased its support in the microfinance industry and provided guidance on the…

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