A hope for rural areas, but more needs to be done

From: China Daily | Date: March 2, 2007| Author: | Copyright information

The opening of two new rural financial institutions yesterday gives hope to the large number of low-income Chinese farmers and small rural businesses that they will enjoy wider access to bank loans.

China has long been struggling to channel lending to its vast rural areas, still not adequately served by the existing financial system. Villages are home to less than one-sixth of all bank branches, accounting for 15 percent of the country's deposits and loans in 2006.

Cities get 10 times more loans per person than the countryside, where over 60 percent of the 1.3 billion population live. And, ...

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