Читать книгу Rural Finance in Poverty-Stricken Areas in the People's Republic of China - Xuechun Zhang - Страница 20

In 1951, the government promulgated a series of regulations on cooperatives and a new type of institution—the rural credit cooperative (RCC)—was launched to offer credit services exclusively to rural households. By 1954, under the slogan “One village, one cooperative,” 124,000 RCCs had been established in the country. In 1955, the number reached 159,000. In 1956, the administrative mergers of districts and townships reduced the number of RCCs to 103,000; these covered close to 100 million rural households. By 1957, rural credit cooperatives were firmly established in the country. Subsequently, RCCs gradually deviated from the cooperative system and were put under the management of the PBC until after the Cultural Revolution. Throughout the 1960s and 1970s, RCCs served as implementing agencies for rural credit and savings plans. RCCs and the agriculture department of the PBC thus formed the rural financial system.