Chinese microcredit firms lend around USD $10 billion in first half of 2014

Thursday, July 24, 2014

BEIJING, July 23 (Xinhua) — Microcredit companies in China issued 61.8 billion yuan (about 10 billion U.S. dollars) of new loans in the first half of 2014, industry figures showed on Wednesday.

Outstanding loans of these companies exceeded 880 billion yuan as of the end of June, the People’s Bank of China, the central bank, said in a report.

Source: Global Post (link opens in a new window)

Base of the Pyramid, financial inclusion