
COMPANY INTRODUCE
China Hongyang Group, is an integrated enterprise with the research & development, production and marketing of Fuel Dispenser and related accessories as well as service station concerning equipments. It concentrates on the relative manufacture & services of filling station such as Hongyang tax control Fuel dispenser, IC Card fuel dispenser, manage system of network for stations, submerge pump and liquid level devise. China Hongyang Group, designed supplier of SinoPec and PetrolChina, our HONGYANG products have been sold to over 50 countries in South-east Asia, Mid-east, Africa, Europe and well received in their markets.
we are committed to create the best workplace, encourage our staffs to put their own personalities into their jobs, and provide them a stage to show themselves.
enders charge extortionate interest rates to those in
desperate need. Microcredit-providers, which are charities that lend tiny amounts to the poor without
necessarily expecting to make a profit in return, are globally trendy and socially responsible. So it came
as a shock earlier this year when the government of Andhra Pradesh, the Indian state where microcredit
has spread fastest, a fuel dispenser ccused some leading microfinance institutions (MFIs) of behaving no better than old-
style usurers. The lenders say they are being defamed, in a row that raises questions about their future
in the state.
The dispute centres on one poor rural district, Krishna. Some women were reported to have killed
themselves because they could not repay the MFIs. In March a top government official in Krishna
temporarily shut 50 branch offices of four MFIs, seized and destroyed their records and told their
borrowers not to repay their loans. He accused the microfinance groups of charging exorbitant rates.
Udaia Kumar, who runs SHARE, one of the affected four, says that, in fact, its loans cost about 21.5% a
year—not excessive, since its cost of funds is 11% a year, the administration of a portfolio of more than
800,000 small loans in Andhra Pradesh is expensive, and not all loans are r fuel dispenser epaid. It is also less than half
the rate a moneylender would charge or what a poor borrower would end up paying for a bank loan. Even
so, SHARE has since agreed to cut its rates by about four percentage points.
There had been abuses. Viswanatha Prasad of Bellwether, a
fund that finances microcredit-providers, blames “indiscriminate
expansion�(see chart). The MFIs were flush with money, partly
because commercial banks saw them as a good vehicle for
lending to rural areas. Some microcredit lenders were charging
interest rates on the full amount of a loan, rather than the
declining balance, and some borrowers were bullied and
humiliated. Aggressive competition and a failure to share
information meant some people were in hock to numero fuel dispenser