Reporters' Log

China plans to build 2,000 village banks

By Ding Qingfen and Yang Zhen (chinadaily.com.cn)
Updated: 2009-03-06 17:38

China plans to build 2,000 village banks to compete with existing rural credit cooperatives, Liu Mingkang, head of China's banking regulator, said on the sidelines of the ongoing National People's Congress on Friday.

Liu said China will encourage private business owners to invest in rural financial institutions, on condition that banks with licenses approved by China's banking regulator remain the majority shareholder. China currently has 97 village banks.

The government would also encourage private business owners to establish guarantee companies.

Central Economic Work Conference

• Interest Rate Cut
• 30 Years of Reforms
• Coping with Financial Crisis
• Housing in China
• 2008 Tsinghua Management Global Forum
• more

Hot Words

• 政府注資 pump priming
• 軟環境 soft environment
• 糧食最低收購價 crops' minimum purchase prices

• 保八 Eight Percent Protection
• 以人為本 Put People First
• 農民企業家 Farmer-turned-entrepreneur
• 窗口指導 window guidance
• 下崗再就業 Re-employment after being laid off
• more

From Foreign Press

• German media give full coverage to Premier's report
• Overseas press praise China's 8% economic growth
• German media: Economy tops agenda at NPC session
• From the foreign press
• World media keeps close watch on 'two sessions'
• more

Letters

• Corruption top issue for public
• China adopts Food Safety Law
• China's economic growth in 2009
• more