Rural credit reform
Source: Xinhua |
January 29, 2011, Saturday
|
Print Edition
Print Edition
CHINA needs to reform its rural financial system if it is to tackle poverty in the countryside and allow agriculture and local businesses to play a strong, long-term role in the domestic economy, said a new book from the Asian Development Bank.
The book, launched this week, suggests new laws are needed to support micro-credit institutions, financial cooperatives, and informal finance, which are key to meeting financing needs in rural areas.
Although China has seen rapid reform in its financial sector in recent decades, reform in the rural financial sector has lagged, exacerbating the economic gap between rural and urban regions, the ADB said yesterday, citing the viewpoints of the new book.
The book, launched this week, suggests new laws are needed to support micro-credit institutions, financial cooperatives, and informal finance, which are key to meeting financing needs in rural areas.
Although China has seen rapid reform in its financial sector in recent decades, reform in the rural financial sector has lagged, exacerbating the economic gap between rural and urban regions, the ADB said yesterday, citing the viewpoints of the new book.
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