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:
“It would astonish if not amuse, the older citizens of your County who twelve years ago knew me a stranger, friendless, uneducated, penniless boy, working on a flat boat—at ten dollars per month to learn that I have been put down here as the candidate of pride, wealth, and aristocratic family distinction.”
—Abraham Lincoln (1809–1865)
“I have passed down the river before sunrise on a summer morning, between fields of lilies still shut in sleep; and when, at length, the flakes of sunlight from over the bank fell on the surface of the water, whole fields of white blossoms seemed to flash open before me, as I floated along, like the unfolding of a banner, so sensible is this flower to the influence of the sun’s rays.”
—Henry David Thoreau (1817–1862)