Mi­cro­fi­nance Com­pa­nies in China See Out­stand­ing Loans De­cline by USD$4.83 Bil­lion in First Quar­ter of 2020

The lat­est data from the Chi­nese cen­tral bank points to size­able de­clines in both the num­ber the out­stand­ing loan bal­ance of Chi­nese mi­cro-loan com­pa­nies in the first quar­ter of 2020.

As of the end of the first quar­ter of 2020 there were 7458 mi­cro-loan com­pa­nies op­er­at­ing in China, with an out­stand­ing loan bal­ance of 877.068 bil­lion yuan, or a de­cline dur­ing the quar­ter of 33.81 bil­lion yuan (ap­prox. USD$4.83 bil­lion).

This com­pares to a 7551 mi­cro-loan com­pa­nies as of the end of 2019, with an out­stand­ing loan bal­ance of 910.878 bil­lion yuan.

The num­ber of peo­ple work­ing in the sec­tor fell from 80,846 to 78,280, while paid-in cap­i­tal fell from 809.751 bil­lion to 806.322 bil­lion yuan.

Posted by China Banking News