Pingtan Zhonghui Petty Loan Inc was established on May 29, becoming the first domestic limited company in the Pingtan Comprehensive Pilot Zone, in Fujian province.

The company has a registered capital of 120 million yuan ($19.6 million), and it specializes in the management of small enterprises, financial counseling, petty loan issuance, as well as entrusted loans.

The move is expected to enliven Pingtan's financial market and provide more financing channels for its small- and medium-sized enterprises.

There are a total of 99 financial enterprises in Pingtan, with the total registered capital accounting for 1.44 billion yuan.

Edited by Chen Zhilin and Niva Whyman