Civilian Loan Market Needs Regulation and Standardization

SHI Qinghua1( 史清华 ) and ZHUO Jianwei2( 卓建伟 )

Editorial note：

Civilian loans (which refer to private, non-governmental, people-to-people loans as opposed to loans from government-controlled banks) are prevalent in China’s rural areas and play an important part in the livelihoods of many farming households. Behind the prevalence and prosperity of the civilian loan market, however, are the underdevelopment and even the absence of regular financial institutions. What are the characteristics of loan activities among China’s farming households? What are the reasons for the prevalence of civilian loans and the limited role of bank loans? An empirical analysis and comparative study are conducted by Shi Qinghua and Zhuojian Wei in their article entitled “Civilian Loan Market Needs Regulation and Standardization” based on their surveys of 3,331 farming households from the five provinces of Shanxi, Hubei, Henan, Jiangsu and Jilin.

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