At the annual meeting of the China Microfinance Association, held in Beijing on the 27th and 28th of October 2009, several speakers were able to update the assembled members and other attendees on the number of county-level organizations that have to date been approved in China, theoretically potential deliverers of  microfinance. Mr. Jiao Jinpu, champion of microfinance for the People's Bank of China and currently heading up the Graduate School under the central bank, for instance, gave us end-September figures for the number of micro-credit companies that have been approved: 1,222.  In turn, Mr. Tian Jianhua, the representative from the China Banking Regulatory Commission (CBRC) , announced that at the same end-date, the creation of 127 new financial institutions had been approved at the county and sub-county level, with 112 of these being village banks.