Chinese microcredit companies reportedly experienced a 52-percent increase in loans outstanding during 2012 to CNY 600 billion (USD 96.3 billion). Since the Chinese government began allowing the establishment of microcredit companies in 2005, the number of microfinance institutions (MFIs) in the country has grown to 2,000 [1].
For the year of 2011, 67 Chinese microfinance institutions (MFIs) reporting to the US-based nonprofit Microfinance Information Exchange (MIX) held deposits of USD 27.2 billion and loans of USD 13.3 billion disbursed to approximately 568,000 active borrowers.
By Brendan Millan, Research Associate
Sources and Additional Resources:
[1] Global Times: “Chinese Microcredit Firms Lend 600 bln Yuan”, http://www.globaltimes.cn/content/754483.shtml
MicroCapital.org story, November 16, 2012, “China Records Increase in Number of Microcredit Institutions”, https://www.microcapital.org/microcapital-brief-china-records-increase-in-number-of-microcredit-institutions/
MicroCapital.org story, January 24, 2012, “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, January 24, 2012, “Microfinance Institutions in China Report $58b in Outstanding Loans”, https://www.microcapital.org/microcapital-brief-microfinance-institutions-in-china-report-58b-in-outstanding-loans/
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