China International Center for Economic and Technical Exchanges (CICETE) has set up a social enterprise in Xiangxi Tujia and Miao Ethnic Autonomous Prefecture of Hunan Province with the name of “ Xiangxi Microfinance Service Center ” (MFSC). It has taken over the revolving loan fund and microfinance business of “Xiangxi Rural Development Association”, a NGO founded by UNDP Poverty Alleviation project 10 years ago.

Xiangxi MFSC is the first commercialized MFI transformed from NGO managed by CICETE. There will be more NGO style MFIs will be transformed in the future. Commercialization is the trend for sustainable development of microfinance in China.

（ News From Division III ）