The relevant person in charge of Fujian Banking Regulatory Bureau said that Jian 'ou is a big agricultural city in Fujian Province, and the characteristics of rural banks facing agriculture, rural areas and farmers meet the needs of Jian 'ou's development. Fujian Jian 'ou Shishi Village Bank was established by Shishi Rural Cooperative Bank as the sole sponsor with a capital contribution of 20 million yuan. Jian 'ou Shishi Village Bank will carry out various businesses such as deposit, loan and remittance to meet rural financing needs, especially microfinance needs.
It is understood that at the end of 2006, after the CBRC relaxed access to rural financial markets, it encouraged all kinds of capital to set up village banks, loan companies and rural mutual funds cooperatives in rural areas. By the end of May this year, there were 4 1 new rural financial institutions officially opened in China, including 28 village banks.