China to promote small loans to rural households

CHINA - A spokesman for the People's Bank of China (PBOC) said Monday that the central bank will adopt more effective measures to guide and promote rural credit cooperatives to grant small credit loans to rural households.

He said the central bank's efforts in this respect had achieved marked results over the past two years, and by the end of September, 90 per cent of rural credit cooperatives had granted small credit loans, with the outstanding total reaching 78.9bn yuan (9.54bn US dollars),