Date
23 October 2018

Micro-credit firms issue 161.2 bln yuan in loans, Xinhua says

Mainland micro-credit companies issued 161.2 billion yuan (US$26.3 billion) in new yuan-denominated loans in the first three quarters, Xinhua reported Tuesday, citing central bank data. By the end of September, the number of micro-credit companies in China had risen to 7,398, with total outstanding loans at 753.5 billion yuan, the People’s Bank of China said in a statement on its websiteJiangsu had 555 small-credit companies by September, the most of any provincial-level region, followed by Liaoning and Inner Mongolia, the report said.

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