More village banks
Source: Xinhua |
June 13, 2011, Monday
|
Print Edition
Print Edition
CHINA'S rural financial institutions have mushroomed, with more than 400 village banks in operation at the end of the first quarter of this year, the nation's banking regulator said over the weekend.
At the end of the first quarter, 448 rural financial institutions were in business, and another 104 were being built, said Zhou Mubing, vice chairman of the China Banking Regulatory Commission.
Sixty percent of the banks are in central and west China while the remainder are in eastern regions, he said during the fourth China Village Bank Development Forum.
He noted that the CBRC has worked to give private investors better access to the rural financial market in recent years.
The commission will encourage similar initiatives in less-developed regions, Zhou said.
At the end of the first quarter, 448 rural financial institutions were in business, and another 104 were being built, said Zhou Mubing, vice chairman of the China Banking Regulatory Commission.
Sixty percent of the banks are in central and west China while the remainder are in eastern regions, he said during the fourth China Village Bank Development Forum.
He noted that the CBRC has worked to give private investors better access to the rural financial market in recent years.
The commission will encourage similar initiatives in less-developed regions, Zhou said.
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