Source: CCTV.com

10-09-2008 13:20

China will further expand its reforms to the rural financial sector next year to give businesses in the countryside greater access to credit and to increase rural incomes.

China will further expand its reforms to the rural financial sector next year to give businesses in the countryside greater access to credit and to increase rural incomes.

The China Banking Regulatory Commission said on Wednesday that it was working on the details of the reforms, including how to widen banks' geographical scope, increase the number of rural financial firms and relax ownership restrictions.

The country launched a trial scheme early last year, making it easier for commercial banks in six provinces to offer their services in rural areas. It then took the program nationwide in October 2007. The CBRC said 61 new rural financial firms had begun operating and lent out a total 1.9 billion yuan by August. It added that it expected the number of such firms to exceed 100 by the end of this year.

 

Editor:Xiong Qu