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Wenzhou (CNS) -- Wenzhou Private Loans Registration Service Center was officially put into operation on April 26, as the first shot of financial reform in this city where a large number of non-performing loans exists. Reporters from CNS visited the pilot project base on Wednesday.

We serve as a platform to gather qualified capital agencies, and these agencies mediate between loaner and debtor, said Xu Qianzhi, head of the center.

The center aims to guide private capital flow into the real economy and offer solid help to small and micro enterprises, added Xu.

Since the operation began, the center has seen more than 40 loans granted, with a turnover of 40 million yuan. At present, registered debtors need a total amount of one billion yuan .

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