Читать книгу Rural Finance in Poverty-Stricken Areas in the People's Republic of China - Xuechun Zhang - Страница 26

In a fourth reform, rural cooperative foundations came into play. In the late 1980s, Sichuan Province approved the establishment of both rural cooperative foundations and some rural enterprise finance companies. With the development of the family contract responsibility system, rural cooperative foundations started to emerge nationwide in 1984. By the end of 1992, various types of rural cooperative foundation had been established in 37% of townships and 15% of villages all over the country. In the early stage, their funding sources were largely collective funds, and loans mainly targeted local village farmers.

Enhanced productivity provided impetus for the commercialization of previously policy-oriented financial businesses. The rural branches of the ABC and RCCs began developing commercial credit with idle funds. Although credit size and term structure were strictly controlled, the credit target shifted. From 1980 to 1994, ABC and RCC loans to rural industries grew twelvefold, much faster than the growth rate of other loans, and the share of rural industry loans rose from 13.8% to 33.2%.