CHINAEUROPE AFRICAASIA 中文双语Français
Rss\China Watch\life_rss\Life

Residents benefit in quest for a brighter future

By Hou Liqiang and Hu Meidong | China Daily | Updated: 2017-07-11 08:05

Residents benefit in quest for a brighter future

A bird's-eye view of part of the forest that covers Wuping.[Photo by LIN SHANCHUAN/XINHUA]

Unauthorized access

The big problem is that national regulations state the cooperative is not qualified to offer credit guarantees because it has not yet gained the financial authorities' approval to do so.

That means the five members of the cooperative's panel are responsible for the credit guarantees it offers, although loans issued via the cooperative are also guaranteed by the security deposit, said Huang Jianzhong, director of the Wuping Hengxing Rural Bank. He added that the bank works with the cooperative because it recognizes the need to support farmers and rural development.

Xu Ruhui, director of the forestry ownership reform office at the Fujian Forestry Administration, said his department and the local financial authorities are still discussing the legalization of about 10 village-based cooperatives, similar to the one in Yuanding, across the province.

"If the financial authorities say it's a red line that cannot be crossed, we may have to shut them down-that's often the case in reform programs. But I would be happy to take the risk because it is the government's duty to respond to people's demands and formulate ways of satisfying them," he said.

 

Previous Page 1 2 3 Next Page

BACK TO THE TOP
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US