Press Release – 20 December 2011
In recent years, microfinance has been booming in China, with over 3,000 Microcredit Companies in operation by 2011, and outstanding loans reaching RMB 200 billion, expanding financial access to the many Chinese microentrepreneurs who often lack the loans necessary to develop income generating activities and a sustainable livelihood. However, with the Chinese microfinance sector now entering a period of rapid growth, risk management will be decisive for the sustainable growth of the sector. “Robustness” will be a necessary foundation for the Chinese microfinance industry and individual microfinance institutions to grow further, control over-indebtedness, and access new funding sources.