Innovation essential to sustainable growth of microlending sector

Despite their inherently limited lending scales, microcredit companies are playing an important role in China’s financial inclusion industry, analysts said.

As of the end of September, a total of 8,332 microcredit companies in China registered an aggregate loan balance of 972.1 billion yuan ($141 billion). That is equivalent to only a tiny fraction of traditional banks’ 66 trillion yuan loan balance relating to SMEs and the agricultural sector, according to official data.

Read More .. Source: China daily

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2019-01-03T22:11:05+05:30January 3rd, 2019|Categories: FIAKS daily, Financial Inclusion, Fintech & Technology, Innovation, Lending, SME Lending|Tags: |0 Comments

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