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Fighting Poverty from the Trenches: Micro Finance in China

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China’s economic boom has raised hundreds of millions of people out of poverty. In rural areas, widespread poverty remains a challenge. Fuping Development Institute began operations in 1993 with a RMB 500 budget, and since then, has become a major vehicle for poverty eradication in China. Today, Fuping manages a micro-loan portfolio worth tens of millions of RMB, with an impressive 97% repayment rate. Through their home care service training schools, Fuping has also empowered tens of thousands of rural women to obtain the skills necessary to gain employment as domestic assistants in nearby urban centers and provide a better future for their families. Fuping is also involved in many grass-roots social responsibility programs to help disadvantaged people.

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About Mao Yushi

Yushi Mao headshot
Professor Mao is an economist who has held positions at Harvard University, the Chinese Academy of Social Sciences and the Beijing Institute of Economics. He has been chairman of the Unirule Institute of Economics, a private non-profit research institution, since 1999. The institute's mission is promoting, supporting and also conducting high quality research in economics and other social sciences. Since its foundation,... [Full Bio]
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