The Micro-credit Companies in China: Policy Development and Reflection on its Transformation Disputes

摘要

Since May 2008, the experiments of the commercial micro-credit companies (MCCs) in China which permitted to offer loans but not to take deposits have been expanded to the whole country fast, and the development of MCCs has received more attention. However, a new policy on the MCCs issued by the CBRC (China Banking Regulation Commission) in June 18, 2009 caused extensive disputes. This paper first summarizes the relevant policies and its development, and then focuses on analyzing the transformation rules of the MCCs to village banks and its main disputes, and then makes a deep reflection on the transformation rules of MCCs and its potential developing directions in the future.