The village of Wujia Gedu in Inner Mongolia lies 600km west of Beijing. Photo: Orange Wang
China’s Baoshang Bank failure has silver lining in the form of greater focus on rural lending
- Baoshang Bank, which is part of Xiao Jianhua’s Tomorrow Group, was taken over by the government in May due to ‘severe credit risks’
- Based in Inner Mongolia’s Baotou city, the bank aggressively expanded its lending to rural communities, which are now seeing more lending options open up
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China economy
The village of Wujia Gedu in Inner Mongolia lies 600km west of Beijing. Photo: Orange Wang