CHINAUS AFRICAASIA 中文双语Français
Business\Markets

Chinese village,town banks grow in 2016

Xinhua | Updated: 2017-03-03 10:50

BEIJING - China witnessed robust growth of village and town banks in 2016, amid efforts to channel more financial resources to rural areas for development and narrowing the urban-rural income gap.

China had a total of 1,519 village and town banks at the end of 2016, up from 1,377 in 2015, with combined assets topping 1.24 trillion yuan ($180 billion), Ma Xiaoguang, a senior official with the China Banking Regulatory Commission (CBRC), said Thursday.

"Village and town banks have played an important role in improving the rural financial system and supporting development," Ma said, citing figures that combined loans of about 3 trillion yuan have been issued to farmers and small businesses since such banks debuted in 2007.

Private capital is playing a big role in the establishment of those banks and improving their governance, Ma added.

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