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:
“I know this well, that if one thousand, if one hundred, if ten men whom I could name,—if ten honest men only,—ay, if one HONEST man, in this State of Massachusetts, ceasing to hold slaves, were actually to withdraw from this copartnership, and be locked up in the county jail therefor, it would be the abolition of slavery in America. For it matters not how small the beginning may seem to be: what is once well done is done forever.”
—Henry David Thoreau (1817–1862)
“It was like passing a boundary to dive
Into the sun-filled water, brightly leafed
And limbed and lighted out from bank to bank.
That’s how the stars shine during the day.”
—Wallace Stevens (1879–1955)