1. According to the Banking Supervision Law of the People's Republic of China, rural credit cooperatives are not banking financial institutions, but non-banking financial institutions. Rural credit cooperatives are subordinate to county-level credit cooperatives and supervised by the People's Bank of China. The nature of rural credit cooperatives is collective ownership. It doesn't have as many businesses as commercial banks, and it is functionally equivalent to a part of commercial banks. But its nature is essentially different from that of commercial banks.
2. In June 2003, the State Council issued the Pilot Program for Deepening the Reform of Rural Credit Cooperatives, and selected eight provinces (cities) including Zhejiang, Jilin, Jiangxi, Shandong, Chongqing, Shaanxi, Guizhou and Jiangsu to carry out the pilot work of deepening the reform of rural credit cooperatives. The CBRC's orientation for rural credit cooperatives is to build a modern financial enterprise in five years to 10 and eventually become a commercial bank. It will take 5 years to 10 years to gradually build a modern financial enterprise with community banks as the mainstay. It can be seen that the reform of rural credit cooperatives will be completed within 5- 10 years and eventually become a commercial bank. Once the reform is completed, rural credit cooperatives will eventually become a commercial bank, then it will completely become a banking financial institution.
Three. Conditions for applying for loans from rural credit cooperatives
1. Have the ability to repay the principal and interest on schedule. The original loan interest payable and the loan due have been basically paid off; If there is no repayment, a repayment plan approved by the lender has been made.
2. Except for natural persons and enterprise legal persons who do not need to be approved and registered by the industrial and commercial department, they shall go through the annual inspection procedures at the industrial and commercial department.
3 rural credit cooperatives have opened basic account or general deposit accounts, and reserved a certain amount of deposits in the accounts; Voluntary acceptance of the supervision and inspection of credit and settlement by lending institutions can ensure that business plans and related business and financial statements are submitted to lending institutions on a regular basis.
4 to apply for a guarantee or mortgage loan, there must be a loan guarantor, loan collateral or pledge that meets the requirements. The loan guarantor must be an enterprise or economic entity that opens a deposit account in a rural credit cooperative with good economic benefits and reliable credit.
4. The loan collateral must comply with the provisions of the Guarantee Law of People's Republic of China (PRC) and relevant laws and regulations. In principle, it should be mainly real estate (such as houses and land), and it should be commercialized and easy to realize. If the asset-liability ratio of rural borrowers is not higher than 70% to apply for loans for fixed assets, real estate and other projects, the borrower's owner's equity and the proportion of self-raised funds must meet the requirements stipulated by the State Council and be submitted according to the requirements of project management.
Five, except as stipulated by the the State Council, the accumulated foreign equity investment of limited liability companies and joint stock limited companies shall not exceed 50% of their net assets. Rural borrowers must apply for loan cards in accordance with the provisions of the People's Bank of China, and go through the annual inspection procedures in accordance with the provisions.