China's rural credit institutions may seek foreign financing

Note: This section contains information in English only.
Source: China.org.cn
© Scanpix/AP

China is reforming its rural credit cooperatives that face competition from the increasing number of the independent rural credit institutions. The government is going to stimulate the development of credit rural cooperatives by transforming them into local commercial banks and inspiring overseas partners to invest in them, said Yin Youxiang, head of the rural financial service division of the  CBRC.

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