Microfinance companies are limited liability companies or joint stock limited companies established by natural persons, corporate legal persons and other social organizations that do not absorb public deposits and operate microfinance business.
China Banking Regulatory Commission (hereinafter referred to as: China Banking Regulatory Commission or CBRC; English abbreviation: CBRC) was established on April 25th, 2003, and it is a ministerial organization directly under the State Council. According to the authorization of the State Council, we shall uniformly supervise and manage banks, financial asset management companies, trust and investment companies and other deposit-taking financial institutions, and safeguard the lawful and steady operation of the banking industry.
The People's Bank of China, hereinafter referred to as the Central Bank, is the central bank of People's Republic of China (PRC) and an integral part of People's Republic of China (PRC) and the State Council. Under the leadership of the State Council, formulate and implement monetary policies, prevent and resolve financial risks, and maintain financial stability.