Date
16 October 2017

China mulls new policies on small & micro loan firms, paper says

Government policies on small and micro loan companies could see major changes this year as the firms are facing some bottlenecks after a period of rapid growth, China Business News reported Wednesday. The new measures could include introduction of operating licenses for the financing firms and boosting the financing channels and quotas, it said. As of the end of 2013, there were 7,839 small and micro loan companies in China, an increase of 1,759 from 2012. Total loans extended by those firms stood at 819.1 billion yuan (US$134.99 billion), with new loans during 2013 amounting to 226.8 billion yuan, up 38.3 percent from the previous year, the report said.

– Contact HKEJ at [email protected]

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