The Historical Changes of Microfinance in Luqiao District

Wen Xiao, Jiadong Pan and Wenwu Xie
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Wen Xiao: Zhejiang University
Jiadong Pan: Zhejiang Institution of Administration
Wenwu Xie: Zhejiang University

Chapter Chapter 2 in Microfinance and China's Regional Development, 2023, pp 53-79 from Springer

Abstract: Abstract In China’s transition from a planned financial system to a market one, there is a gradual process for the market to act as a fundamental resource allocator and provide institutional supply. The state-owned financial enterprises, which are the main market players, can only provide the institutional supply of some specific businesses before they become the self-developing and self-restraining “economic person”, while the basic financial system, operation mechanism, and management system need to be provided by the government. However, microfinance in Luqiao shows different characteristics due to its unique development background and foundation. The evolution of microfinance in Luqiao District has gone through three periods, namely, the pilot stage from 1988 to 2001, the development stage from 2002 to 2010, and the rapid development stage of cooperation between securities and banks from 2011 to the present.

Date: 2023
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DOI: 10.1007/978-981-99-1960-4_2

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