In Finance, What is a Fair Price?

FAIR FINANCE is a financial service method and concept that is equal for all. Let every individual / organization (large state-owned enterprise, state-owned enterprise, listed company, small and micro enterprise, self-employed enterprise, complete civil actor) be able to enjoy fair and equal financial services.

Fair finance

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FAIR FINANCE is an equal for all

This concept originated from "Fair Finance" founded by Faisal Rahman of Bangladesh in 2000. In China, Zhang Yang [1], the CEO of Xinxindai, put it out for the first time after perfection, and formed a service standard for the Chinese microfinance industry.

Fair finance allows small and micro enterprises and other individuals to obtain equal financial services, giving them the opportunity to participate in economic construction and development, and achieving common prosperity and building a harmonious society.

Achieving fair finance includes innovation in the financial system, including innovations in products, institutions, and systems.

The main services of fair finance are small and micro enterprises and individuals outside traditional financial institutions, and provide them with financial services equivalent to traditional financial institutions, so that they can get opportunities for entrepreneurship and employment and participate in social and economic construction.

The institutional guarantees needed for fair finance are: first, the development space provided by national laws and policies; second, allowing and encouraging the creation and development of microfinance institutions; and third, strengthening the construction of social credit systems and innovating online credit reporting systems.

At present, 99.3% of Chinese enterprises are small and micro enterprises, they contribute 55.6% of GDP and provide 75% of employment opportunities ^[1]

In 2000, Faisal Rahman joined the Environment Trust, a charity in East London, and began working on individual microfinance projects and an innovative, sustainable debt advisory service. This project was later approved by the Bank of England and the British Federal Reserve, which led Rahman to create "Fair Finance ^[2] ".

At the end of 2004, "Fair Finance" was formally established and registered with the British Financial Services Authority.

On April 4, 2005, as a social enterprise, "Fair Finance" was officially completed in the Stephen District of East London.

In July 2013, Zhang Yang, the founder of Xinxin Loan, went to the UK to study and bring back the concept of "fair finance". At the same time, he implemented the concept of "fair finance" to the P2P small loans that Xinxin loan is engaged in. The new loan business has spread the concept of "fair finance" to the entire P2P industry.

In March 2014, Zhang Yang, the founder of Xinxindai, put forward the concept of P2P fair finance for the first time at the China Inclusive Finance Forum. Financial services and become the industry norm.