Firms ready for microcredit

It's a hot summer day in Beijing, but Zhang Bo's enthusiasm is stronger than the heat outside.

As president of a warranty company, Zhang has been thinking about the company's transformation for a long time and now has a solution in sight - microcredit.

Huo Xuewen, deputy director of the Beijing municipal commission of development and reform said in a press meeting that the capital is working on management regulations on microcredit companies and will launch several such companies on a pilot basis before the year-end. Meanwhile, Beijing will also promote village banks.