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:
“Jack: A politician, huh?
Editor: Oh, county treasurer or something like that.
Jack: What’s so special about him?
Editor: They say he’s an honest man.”
—Robert Rossen (1908–1966)
“A bank is a confidence trick. If you put up the right signs, the wizards of finance themselves will come in and ask you to take their money.”
—Christina Stead (1902–1983)