PBOC gets data on rural banking

Cyclists pass a billboard for the Rural Credit Cooperative of China in Liaocheng, East China's Shandong Province. Feng Lei

A sub-branch of the People's Bank of China in Changchun, Jilin Province, recently set up a monitoring system to collect data on new financial institutions in the province's rural areas.

The new measure is part of the government's efforts to reform the rural financial system and improve services in the countryside.

Under the China Banking Regulatory Commission (CBRC) pilot scheme launched in December 2006, which scrapped working capital limits for rural financial institutions, five new institutions were set up in Jilin Province by the end of June.