A County Bank is a kind of financial institution with the purpose of boosting rural economic development, which has developed in China since 2005.
In 2007, China Banking Regulatory Commission promulgated “The Temporary Rule of County Bank”, in which the establishment process, organization and structure, as well as business scope of a county bank are specified.
Afterwards, CBRC further published two rules with detailed requirements on county banks, namely "Notice on Printing and Distributing the Guidelines for Examination and Approval of the Establishment of County Banks" and "Notice on the Relevant Policies for County Banks, Loan Companies, Rural Mutual Cooperatives and Small Loan Companies".
Up to October 31, 2008, there are 62 county banks opened in China according to CBRC's report.
Famous quotes containing the words county and/or bank:
“A horse, a buggy and several sets of harness, valued in all at about $250, were stolen last night from the stable of Howard Quinlan, near Kingsville. The county police are at work on the case, but so far no trace of either thieves or booty has been found.”
—H.L. (Henry Lewis)
“The prairies were dust. Day after day, summer after summer, the scorching winds blew the dust and the sun was brassy in a yellow sky. Crop after crop failed. Again and again the barren land must be mortgaged for taxes and food and next year’s seed. The agony of hope ended when there was not harvest and no more credit, no money to pay interest and taxes; the banker took the land. Then the bank failed.”
—Rose Wilder Lane (1886–1968)