The Fifth Awarding Ceremony of the Excellent CCC of UNDP Poverty Alleviation Programs was held from Oct.16 to Oct.18 in Chengdu, Sichuan province. Mr. Wang Yue, director general of CICETE, officials from CICETE, People’s Bank of China (PBoC), Ministry of Science and Technology, and about 100 representatives of the UNDP microfinance institutions (MFIs) from 35 counties in 14 provinces attended the ceremony. Wang Yue concluded last year’s work and achievements at Beijing levels, and expressed that CICETE will continue the management on the field MFIs after the close of the two microfinance programs through the expected-built China Microfinance Association. The official from PBoC introduced the current-run financial rules in rural area and the financial environment of development is expected to be more conducive in not- distant future. Mr. Bai Chengyu, director from the project office, disposed, and also introduced the further workplan for the setup of the new association. by a representative from the Program Division.