Money
China to introduce financial services to 500 villages
Updated: 2011-06-24 10:41
(Xinhua)
BEIJING -- China will work to introduce financial institutions to another 500 villages and towns that currently have no financial services establishments in them, the country's banking regulator said Thursday.
The move aims to promote equal access to financial services in rural areas, Zhou Mubing, vice chairman of the China Banking Regulatory Commission (CBRC), said in a national teleconference.
|
Regulatory authorities should give incentives to encourage social capital in various fields to enter the rural financial market, Zhou said.
Those first building financial institutions in rural areas where financial services are not available will get priorities in the fields including preferential access to the local financial market and lower requirements in operating capital and supervisory standards, he added.
Starting October 2009, the CBRC has been working to promote financial services in rural areas. So far, the number of villages and towns without financial services establishments have been reduced by 646 to 2,299, he said.
Specials
My China story
Foreign readers are invited to share your China stories.
Pret-a-design
Though Elisabeth Koch did not attend the Aprilweddingof Prince William and Kate Middleton in London, her tailor-made hats might have.
Mom’s the word
Italian expat struggles with learning English and experiences the joys of motherhood again.