Brief Introduction to the Shanghai Association of Micro-Credit Companies
The Shanghai Association of Micro-Credit (SAMC) is a non-profit, self-regulatory organization initiated by micro-credit corporations in Shanghai. It was established on September 18, 2009, after approvals from the Shanghai Financial Service Office and the Shanghai Municipal Bureau of Social Organizations. Up to now, SAMC has 119 members: 104 micro-credit corporations, 7 law firms, a commercial bank, 2 rating agencies, 2 financial corporations, a guarantee corporation, an accounting firm, and an industry association.
SAMC has a council and a secretariat. The council now is in its second year. Yang Guoping, chairman of the board of Dazhong Transportation (Group) Cor. Ltd, is serving as the president of the council, and Li Weitao is serving as executive secretary of the secretariat. SAMC has 10 vice president units. SAMC’s duties fall into five categories: advocating industrial policies, industrial self-regulation, information communications, training and technical support, and financing services and risk management. SAMC has established an Information Search System of Property Ownership for its members, compiled a blacklist of corporations violating contracts, undertaken a monthly report on Shanghai’s micro-credit markets, and launched a website (www.samc.org.cn) for the association. SAMC regularly sponsors programs to facilitate the micro-credit corporation’s services for the small and micro enterprises, including promoting negotiations of financing businesses, visiting small and micro enterprises, analyzing economic situations, and providing training involving credit operation skills, discount loan policies, and risk prevention.
SAMC has made achievements in membership services, rights protection, education and training, risk management, international promotion, and corporation and communications since its establishment. In 2011, SAMC was cited as a Best Service Provider in China’s Microcredit Industry by the China Microfinance Institution Association. SAMC also was cited as a Best Partner of the Financial Fair by the Shanghai Financial Association from 2011 to 2013.
Address: Room 1103, Huitong Tower, No. 569, East Jinling Road, Huangpu District, Shanghai
Contact: Li Weitao