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Reform urged for small-sum loan sector

By Zheng Yangpeng ( China Daily ) Updated: 2013-03-23 07:51:01

Reform urged for small-sum loan sector

A small-sum loan company in Wenzhou, Zhejiang province, in April 2012. By the end of last year, there were 6,080 small-sum loan companies in China, extending a total of 592.1 billion yuan ($95.25 billion) of loans. Bai Linmiao / for China Daily

By all accounts, Dai Tianrong, the chairman of Zhejiang Youcan Foods Group Co Ltd, could be a major local financier in Hangzhou, the capital of Zhejiang province famous for its private business.

Reform urged for small-sum loan sector

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