 On November 19, 2014 in the State Council address, prime minister Li Keqiang endorsed equity crowdinvesting as part of financial innovation to solve financing difficulties for small and medium enterprises.On January 20, 2015, the China Securities Regulatory Commission (CSRC) approved the first eight equity crowdinvesting platforms.An Equity Crowdfunding portal was launched in Finland in May 2012 by Invesdor.