Agreement Signed to launch Grameen Heng Chang Microcredit company in Beijing

23rd April, 2016

Agreement Signed to launch Grameen Heng Chang Microcredit company in Beijing

Yunus Centre Press Release (23 April, 2016)

An agreement was signed between Grameen China and Heng Chang Li Tong Investment Mgt at Yunus Centre to create a joint venture social Business company in Beijing to provide financial services to the poor in Beijing. The City Government of Beijing is providing strong support to this initiative. The company has been named as Grameen  Heng Chang.

Two leading CEOs from China visited Nobel Peace Laureate Professor Muhammad Yunus on April 21 to sign agreements and explore future possibilities.

Heng Chang Investment Company is investing nearly a million US dollars the money to launch the microcredit company. As it grows it will invest more funds as needed in this social business. Mr. Hongtao QIN, CEO of Heng Chang Li Tong Investment Mgt Company, and Mr Gao Zhan, CEO of Grameen China,  flew over from Beijing to sign the agreement in the presence of Professor Yunus to register the importance they are giving  to Professor Yunus's support to the new company as well as to the concept of social business.  

Heng Chang Company helps thousands of small business owners, working class and peasants through the platform to solve funding requirements

The City Government and the company will organise a  more elaborate program in Beijing when Professor Yunus visits Beijing in February of next year to launch Yunus Social Business Centre in Renmin University, one of the top ten universities of China.

Mr. Xiangqian Mao, CEO of E-Loan China, an online peer-to-peer lending company of China came with an idea of creating a social business of peer-to-peer lending platform using ‘E Loan China’ platform jointly with Grameen China. He and his team had a long discussion with Professor Yunus at Yunus Centre. Mr. Xiangqian Mao,  briefed Professor Yunus about their business model and their success with present SME loans. He wants to create a separate platform for micro loans jointly with Grameen China. Professor Yunus gave him guidelines which must be followed in order for this to be a social business and be able to successfully reach out to the poor, particularly poor women. He plans to come back soon with more developed concept documents for moving towards creating a joint venture social business with Grameen China.

Photo Caption 2:  Mr Qin Hongtao, the CEO of Heng Chang Li Tong Investment Mgt Ltd. presents Nobel Laureate Professor Yunus with a memento of appreciation after signing an MoU for a Joint Venture social business with Grameen China


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