To protect the rights and legitimate interests of microcredit consumers, the Agency regulates and supervises microfinance institutions.
Legal entities that provide loans to citizens before January 1, 2020 (with the exception of legal entities registered as credit partnerships, pawnshops, and microfinance organizations that have been passed record registration and included in the register of microfinance organizations) are subject to state re-registration as microfinance organizations until July 1, 2020.
Legal entities that provide loans to citizens before January 1, 2020, have registered as credit partnerships, pawnshops, and microfinance institutions that have undergone statutory registration... must undergo state registration as microfinance institutions by July 1, 2020.