Nobel Laureate professor Muhammad Yunus officially launched Grameen China which will implement both microcredit and social business in China.
Dr Yunus launched Grameen China during his visit to China from December 15 to 19.
He was invited to launch Grameen China and attend a number of high-level events organised by the Chinese Association of Microfinance (CAM).
Grameen China will consist of two programmes, one operating microcredit program and another devoted to establishing social businesses. It will also organize an annual Social Business Forum China bringing together people from different sectors interested in social business in the vast country.
Professor Yunus and Richard Liu, founder and Chairman of JD.com which is leading direct sales e-commerce company in China and is the 11th largest internet company in the world with a market cap of US$ 36 billion dollars, both joined the signing ceremony of collaboration agreement between Grameen China and JD.com.
JD.com will used its JD Finance platform to generate crowd funding to finance the operations of Grameen China. Liu, the company’s chairman, is among the ten richest individuals in China.
Professor Xu Xiaonian, Professor of Economics and Finance at China Europe International Business School, Min Tang, Executive Vice Chairman of the YouChange Entrepreneur Foundation, Gao Zhan, Executive Vice President of Grameen China, among others joined the launch event.
On December 15, Professor Yunus was the chief guest at the annual microcredit conference organized by CAM which was attended by 700 microcredit practioners, academics, policy makers, company executives, students among others.