Читать книгу Rural Finance in Poverty-Stricken Areas in the People's Republic of China - Xuechun Zhang - Страница 19

During the period of the planned economy (before 1978), the central government was in charge of resource allocation, including credit allocation. Almost all enterprises, including banks, were state owned, and investment decisions were made by the government’s planning department. There was no real market.

The People’s Bank of China (PBC), established in the 1940s under the leadership of the Ministry of Finance, was the supervisory authority and the sole practitioner in rural finance. It was established as a central bank but also functioned as a commercial bank. Deposit and lending outlets were set all over the countryside. The agriculture department of the PBC had branches from provincial to township levels.