By Hao Zhou (chinadaily.com.cn)
Updated: 2007-10-27 10:13

The China Banking Association and Citibank (China) announced last Friday the winners of the 2007 Microentrepreneurship Awards in China. [chinadaily.com.cn]

Citibank (China) Co Ltd and the China Banking Association yesterday announced the winners of the 2007 Microentrepreneurship Awards in China.

Oriented from a symbolic anniversary of United Nations' International Year of Microcredit 2005, it is the third annual ceremony in China, which recognizes the entrepreneurs' skills and contributions to building prosperity with microfinance support and helping less-advantaged individuals to improve their lives.

The awards include 7 conventional categories, Rural Agriculture, Non-Agriculture, Urban Trade, Processing, Service, and Rural and Urban Loan Officers. Meanwhile, three special awards were introduced this year. They are Innovation, Common Wealth, and Energy-efficiency and Environmental-protection.

This year a total of 198 applications for the Awards were received from around China. After several rounds of screening and field trip interviews, some 107 micro-entrepreneurs were selected as winners across all the prizes.

Wu Xiaoling, vice governor of the People's Bank of China, suggested, "It proves that microfinance is such as a powerful mechanism for empowerment and poverty reduction because it unleashes the drive of the poor to improve their own lives and grow out of deprivation. We should create and provide an environment that fosters the healthy development of microfinance."

Richard Stanley, chairman of Citibank (China) Co Ltd, noted, "As a locally incorporated bank in China, Citi remains deeply committed to making a positive and significant contribution to the wider community, and we are proud of our longstanding support of microfinance development in China."

"Citi congratulates all of the winners of this year's Awards program, and we look forward to being a key supporter of microfinance in China in the future." Mr. Stanley added.