The China Microfinance Industry Association released a notice on September 15 regarding its official name change. According to the announcement, with approval from the Ministry of Civil Affairs, the former China Microcredit Company Association has been rebranded as the China Microfinance Industry Association as of August 2026.

Following the rebranding, the association will extend its membership services to four categories of local financial institutions, including microfinance companies, pawnshops, commercial factoring firms, and local asset management companies. This makes the association the sole nationwide industry self-regulatory body covering all these four institution types.

The original association for microcredit companies was established in April 2015 as a nationwide, industry-specific, non-profit social organization, registered with the Ministry of Civil Affairs and formed under the approval of national financial regulatory authorities. This name change follows the guidance and requirements of the National Financial Regulatory Administration.

Per the announcement, the association will set up four specialized committees, each dedicated to microfinance and pawn services, internet credit services, commercial factoring, and local asset management companies respectively. These committees aim to address the distinct needs of different member categories, with dedicated teams assigned to each.

To apply for membership, local financial institutions must meet several conditions: legally registered and established within China; holding valid financial or quasi-financial business licenses or filing proofs; operating continuously for at least two years; having no major illegal or non-compliant activities in the past three years while not being listed on business operation abnormality lists or serious untrustworthy entity registers; and possessing fixed business premises along with a sound internal governance framework.

The China Microfinance Industry Association stated that it will leverage its roles of "self-regulation, rights protection, service, and coordination," enhance classified and leveled precision services for members, and fulfill its supportive regulatory functions.