Tibet Yurong Microcredit Company, a microcredit institution in southwest China’s Tibet Autonomous Region, was recently established with registered capital of CNY 50 million (USD 7.3 million) financed by unnamed private investors.
According to a Xinhua News Agency article, the company will lend to small and medium-sized enterprises (SMEs), farmers and herdsmen with the intention of “improving the livelihood of the poverty-stricken people”.
By: Christine Chang, Research Associate
Additional Resources:
Xinhua News Agency website: First microcredit institution inaugurated in Tibet, April 11, 2010: http://news.xinhuanet.com/english2010/china/2010-04/11/c_13246593.htm
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