The proposed investment entails a 3-year, up to RMB 300 million (USD 44 million) LCY senior loan to JD Chongqing Microcredit Company (“JD CQ MCC”), which is the dedicated lending company for the agri-loans under JD Finance. The investment will be secured by the guarantee from its ultimate parent and controller – Beijing JD Financial Technology Holding Co., Ltd. (“JD Finance”).
(i) Expand financial access to the most underserved agricultural MSMEs;
(ii) Promote big data based agri-lending: through introducing the advanced internet and mobile based financial services to agricultural MSMEs, and accumulating the necessary data for framers and MSMEs along the supply chain, the proposed business model could potentially bring revolutionary change to the traditional rural finance service approach and lay a solid ground for the future big data based agri-lending;
(iii) Serve as a pilot program and catalyst to encourage other FIs and ecommerce companies to explore the feasible service model for China rural market.
JD CQ MCC was established in January 2016, wholly owned by JD Finance. As of May 31, 2017, its registered capital was RMB600 million (US$88 million); its total asset was RMB1.2 billion (US$170 million); and its outstanding loans of RMB1.1 billion (US$166 million).
JD Finance was established in 2013 by JD.com. JD Finance has several business sectors including supply-chain finance, agri-finance, consumer finance, payment, crowd-funding, wealth management, etc. JD.com was founded in 2004 and becomes the largest online B2C merchant in China.
Project Contact: Ms. Hao, Qiujing
Funding Manager, JD Chongqing Microcredit Company
Telephone No.: +861089189140
Email Address: firstname.lastname@example.org
Office Address: Level 17, Tower A, No. 18 Kechuang-11 Street, Yizhuang, Beijing, China
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