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:
“In the county there are thirty-seven churches
and no butcher shop. This could be taken
as a matter of all form and no content.”
—Maxine Kumin (b. 1925)
“Denouement to denouement, he took a personal pride in the
certain, certain way he lived his own, private life,
but nevertheless, they shut off his gas; nevertheless,
the bank foreclosed; nevertheless, the landlord called;
nevertheless, the radio broke,
And twelve o’clock arrived just once too often,”
—Kenneth Fearing (1902–1961)