出清与新规并行，小贷机构监管加码

Core Viewpoint - The ongoing governance of the microloan industry is leading to a significant reduction in the number of microloan companies, with regulatory bodies actively working to eliminate "lost contact" and "shell" financial organizations [1][3]. Group 1: Regulatory Actions - The Tianjin Municipal Financial Management Bureau has publicly listed 82 "lost contact" and "shell" financial organizations, including microloan companies, financing leasing companies, and commercial factoring companies [1][3]. - These organizations have a 30-day period to submit written appeals; otherwise, they must proceed with deregistration or change their business scope, excluding any mention of local financial organizations [1][3]. - The National Financial Supervision Administration issued interim measures for the supervision of microloan companies, establishing an exit mechanism for non-normative operations [3][5]. Group 2: Industry Trends - The number of microloan companies in China has been steadily decreasing, with a reported total of 4,974 companies as of June 2025, down by 283 from the end of 2024 [3][4]. - The loan balance for microloan companies was 736.1 billion yuan, reflecting a decrease of 18.7 billion yuan in the first half of 2025 [3]. - The competitive landscape within the microloan industry is intensifying, leading to increased pressure on smaller firms and resulting in a higher exit rate for weaker companies [4][5]. Group 3: Future Outlook - Regulatory requirements for new microloan companies are being tightened, with local financial management agencies taking responsibility for supervision and risk management [5]. - Future regulations are expected to include more detailed policies on operational activities, enhanced daily inspections, and increased information disclosure requirements [5]. - Experts suggest that microloan institutions should enhance compliance management, strengthen risk control systems, and explore innovative transformation paths to adapt to market demands [5].