Regulator plans rescue of rural credit co-ops

The mainland banking regulator has outlined a rescue plan for the country's moribund rural credit co-operatives, encouraging domestic and foreign investors to take over or buy into the embattled institutions.

Friday, 3 September, 2010, 12:00am

Fleeced investors can't take their cases to court

Customers of a rural credit co-operative in Shandong who lost millions of yuan in suspicious circumstances a year ago have been unable to take their complaints to a local court, a lawyer said.

29 Jul 2009 - 12:00am

5b yuan boost for rural co-operatives

Rural financial co-operatives will receive 5 billion yuan from the central bank to help revive the cash-starved rural financial system as part of a national drive to improve the lives of farmers.

A report by the Financial News, a newspaper controlled by the People's Bank of China, said 3 billion yuan already had been provided for rural co-operatives.

8 Jun 2006 - 12:00am

Crisis managers

When two powerful typhoons smashed into the country one after the other last week, citizens rose to the occasion. Even before the extent of the calamity was known, they were already turning out to volunteer their services, as well as donating food and clothing.

9 Dec 2004 - 12:00am

Reform of co-ops are crucial, says watchdog

Top banking regulator Liu Mingkang yesterday reaffirmed the need to reform the mainland's rural credit co-operatives.

Mr Liu, chairman of the China Banking Regulatory Commission, said it was crucial that efforts to improve the lives of the millions of impoverished farmers were intensified.

9 Sep 2004 - 12:00am

New co-operatives to help farmers compete globally

The central government is cautiously promoting farmer co-operatives in a bid to assuage grievances from the sector and raise farm incomes.

Under measures outlined in a State Council circular released by Xinhua yesterday, farmers will be encouraged to set up co-operatives and trade associations as long as they are voluntary and follow the principle of democracy.

9 Aug 2003 - 12:00am

Rural financial reform to be fast-tracked

Analysts say China will speed up the reform of its rural financial system in the coming few months.

The China Daily said the efforts would focus on reforming the hundreds of thousands of rural credit co-operatives and turning them into bigger organisations.

11 May 2003 - 12:00am

A rural medical scheme aims to cover up to 900m by end of decade

China has undertaken an ambitious plan to reconstruct its rural medical co-operative system.

Beijing has ordered each province to select two or three counties as test cases in the coming months for the eight-year project.

15 Jan 2003 - 12:00am

PBOC in rural-loans overhaul

The People's Bank of China (PBOC) has announced moves to increase its regulatory overview of rural credit co-operatives. The co-operatives were set up under the Agricultural Bank of China in the early 1950s to provide credit for farmers, a group ignored by state-owned commercial banks.

31 Jan 2002 - 12:00am

Get rid of greed factor

The Government has proposed that Comprehensive Social Security Assistance (CSSA) scheme recipients be made to engage in community service.

Although officials have denied that this scheme is a 'punitive measure', I cannot help seeing it as being anything other than repellent.

27 Dec 1998 - 12:00am

Credit co-operative deposits up

Outstanding deposits in the mainland's rural credit co-operatives stood at 1.16 trillion yuan (about HK$1.07 trillion) at the end of last month, up 89.8 billion yuan from the beginning of this year. Outstanding loans by rural credit co-operatives rose by 80.6 billion yuan to 822.3 billion yuan at the end of last month, the People's Daily reported yesterday.

17 Sep 1998 - 12:00am

You scratch my back, I'll scratch yours

When two different organisms live closely together and each benefits the other, it is called 'mutualism' or 'symbiosis'.

The relationship can be between two animals, two plants or a plant and an animal.

8 Dec 1997 - 12:00am

Merger plan aims to tighten control over rural lenders

China's rural credit co-operatives will be merged into 2,000 co-operative banks under a People's Bank of China (PBOC) scheme to standardise lending activity to the agricultural sector.

A PBOC official said a trial had started in several counties, including Songjiang in Shanghai, which would be extended country-wide in the next few years.

20 Aug 1996 - 12:00am

Trust set to lease maids centres

TWO disused schools designed for use as community centres for domestic helpers will be transferred to the control of the Bayanihan Trust this month with renovations expected to begin soon afterwards.

Leases being drafted by the Home Affairs Department should be presented to the trust in a few weeks, according to a spokesman.

2 Mar 1995 - 12:00am

Tsinlien Company Limited: a clarification

ON January 28, 1995, the South China Morning Post published an article concerning the winding-up proceedings being brought by Zoneheath Ltd against China Tianjin International Economic & Technical Co-operative Corporation.

The article made reference to a company called 'Tsinlien Co'.

8 Feb 1995 - 12:00am