What are the new financial institutions in China in recent years? What are their characteristics?

Microfinance companies are limited liability companies or joint stock limited companies established by natural persons, corporate legal persons and other social organizations that do not absorb public deposits and operate microfinance business.

Village banks refer to banking institutions that provide services for local farmers or enterprises.

Pawnshop, also known as pawnshop, is an informal marginal financial institution that specializes in issuing pledged loans. It is a market intermediary organization that mainly lends money and supplemented by commodity sales.

Financial institutions refer to financial intermediaries engaged in financial services and are part of the financial system. Financial services (banking, securities, insurance, trust, funds and other industries) correspond to this. Financial intermediaries also include banks, securities companies, insurance companies, trust and investment companies and fund management companies.

At the same time, it also refers to lending institutions, which provide loans to companies with financial turnover to customers. The interest rate is relatively higher than that of banks, but it is more convenient for customers to borrow because they do not need complicated documents to prove it.