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China Commercial Credit, Inc. (Nasdaq: CCCR) is a leading microcredit company providing loans and loan guarantees in Jiangsu Province, China, and is the first China-based microcredit company to become public in the U.S. The company was founded in 2008 as a result of banking reform authorizing the proliferation of credit companies designed to issue competitive-interest loans to small-to-medium sized enterprises (SMEs), farmers and individuals — groups which, although accounting for eight of ten jobs in China and 60 percent of the nation's GDP, had historically been excluded from borrowing funds from China's State-owned and commercial banks.


Since 2008, spurred by ongoing government legislation, China's microcredit industry has seen rapid expansion. According to data supplied by Peoples Bank of China (PBOC), in June 2013 the nation had 7,086 microcredit companies with outstanding loans of $115 billion compared to only 1,940 microcredit companies with outstanding loans of $21 billion three years earlier. Jiangsu Province has seen the fastest growth of any province in China during this period, with the number of microcredit firms rising 4.3 times to 529 and outstanding loans growing six times to $18 billion. Wujiang City, CCC's base, has prospered as well, becoming one of China's most economically successful cities and home to an increasing number of the world's leading exporters of electronic equipment, chemicals and textiles — many of which have utilized microfinance loans.


Growth of the China microcredit industry is likely to continue due in part to three government policies. The first are the June 2013 credit tightening measures on the nation's State-owned banks, which are expected to drive additional loan applicants into the microcredit sector. Second is the increased government pressure on China's private, high-interest underground lenders, many of whom have charged SMEs 50 percent interest or more. The third are government moves to block banks' off-balance sheet "back-door" loans to small-to-medium enterprises, thereby increasing SME reliance on microcredit companies.

Since inception, CCC has achieved substantial expansion, delivering compound annual net revenue growth of 22 percent and compound annual pre-tax income growth of 34 percent. Further growth will likely result from increased lending capacity derived from increasing the company's registered capital. This capital will come from funds raised in the company's $8.9 million IPO in August 2013 — expected to raise lending capital from $98 million to $130 million — and potentially from funds derived from issuing additional equity or debt in the U.S. and Hong Kong. CCC also maintains a credit line with Agricultural Bank of China and other State-owned banks.

At the end of 2012, the company had issued $85.8 million worth of outstanding secured loans to 248 borrowers, as well as $86.4 million in loan guarantees for 116 borrowers.

China Commercial Credit is led by CEO, Chairman and founder Mr. Huichun Qin, a former PBOC Vice President and State Foreign Exchange Deputy Director with 27 years executive level banking industry experience.

Company Information

No. 1688, Yunli Road, Tongli
Wujiang Jiangsu province
People's Republic of China

Company Contact

Long(leo) Yi
Phone: (0086)512-63968839
New York: 1-917-6210495

Investor Relations

Jimmy Caplan

Media Relations

Rick Eisenberg

Transfer Agent

VStock Transfer, LLC
Phone: (212) 828-8436


Marcum LLP

Legal Counsel

Ellenoff Grossman and Schole LLP

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