| Micro-finance, which is oriented to provide financial services to those low-income people and micro-enterprises, has been in active in China for more than one decade. In particular, Micro-finance played an important role in both the overall financial renovation in the rural areas and the constructing of a harmonious society. During the past several years, the Chinese government has been very attentively in developing the Micro-finance industry, especially in the very last two years, the government carried out the reform programs more firmly, and it also brought out a series of innovative measures, which was greatly welcomed by the market and the mass Micro-finance consumers. However, due to the some legal deficiency, a number of problems occurred in the actual operation, namely the illegibility of the entity legal credit, the restrictions of the capital operation, the disputes of the interest rate, the malfunctioning of the supervision system. Hence, considering the actual operation conditions and the blessing of other countries'successful stories, the country should constitute a standard legal system for the Micro credit, by redefining the Micro credit, interpret the fundamental principals, developing pluralistic Micro-finance entities, clarifying the operation process, defining a reasonable interest rate, setting up an efficient legal supervision system. This article is for the following points, a redefinition of the Micro-finance, the fundmental principles for China's Micro-finance industry, a systematical research of the very three existing legal problems and their solutions respectively. |
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