The People’s Bank of China (PBoC), the nation’s central banking authority, recently published statistics on the performance of the microfinance sector in 2010 including the number of microfinance institutions (MFIs), number of employees and both capital levels and outstanding loan balances by province and municipality.
In 2010, approximately 2,600 MFIs reportedly issued RMB 120 billion (USD 18 billion) in new loans. As of the end of 2010, the Chinese microfinance sector has an aggregate outstanding loan balance of approximately RMB 198 billion (USD 30.4 billion).
By Jacqueline Foelster, Research Associate
About People’s Bank of China (PBoC): Established in 1948, PBoC is the central bank of the People’s Republic of China. It is responsible for designing and implementing monetary policy. As of April 2011, PBoC has USD 2.45 trillion in reserves.
Sources and Additional Resources:
[1] Xinhua News, March 22, 2011, “Micro-credit companies mushroom to over 2,600 in China”, http://news.xinhuanet.com/english2010/china/2011-03/22/c_13792655.htm
MicroCapital.org Brief, February 4, 2011, “Book From Asian Development Bank (ADB) – Rural Finance in Poverty-Stricken Areas in the People’s Republic of China – Suggests Reform of China’s Microfinance Industry”, https://www.microcapital.org/microcapital-brief-book-from-asian-development-bank-adb%E2%80%94rural-finance-in-poverty-stricken-areas-in-the-peoples-republic-of-china%E2%80%94suggests-reform-of-china%E2%80%99s-microfinance-in/
Microapital.org Brief, November 17, 2009, “Chinese Association of Microfinance (CAM) Calls for Microfinance Reform in Country”, https://www.microcapital.org/microcapitalorg-brief-chinese-association-of-microfinance-cam-calls-for-microfinance-reform-in-country/
MicroCapital Universe Profile: People’s Bank of China (PBoC), https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=People%27s+Bank+of+China
Browse the MicroCapital Universe and add your entry to the wiki at: https://www.microcapital.org/microfinanceuniverse/
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