Fighting Poverty from the Trenches: Micro Finance in China

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.