Overview of Consumer Finance Market in China
the balance of outstanding principal of loans in the consumer finance market increased from approximately CNY 4.45 trillion in 2013 to CNY 10.47 trillion in 2017, representing a CAGR of 23.9%.
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Tag: finance
Microfinance Industry in China
In May 2008, the CBRC and the PBOC jointly promulgated the Guiding Opinions, which sets out the fundamental requirements for establishing, registering and operating a microfinance companies at the national level. This was a significant step in advancing the industry and led to a rapid increase in government registered microfinance companies in China. In addition, through issuing The Guidance on Financial Support for Adjustment and Transformation and Upgrade on Economic Structure (关于金融支持经济结构调整和转型升级的指导意见) in July 2013, the PRC Government increased its support in the microfinance industry and provided guidance on the…
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