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