Efforts have been made to promote the shareholding reform of Agricultural Bank of China (ABC), guide the Agricultural Development Bank to raise funds from the market, steadily advance pilot projects of new rural financial institutions including micro credit companies, village banks and rural funding cooperatives to establish a multi-tiered rural financial service system. Second, strengthen financial support for rural areas.
The PBC will continue to conduct agriculture-supporting central bank lending in a more regionally balanced and well-targeted manner. Timely and appropriate adjustments should be made to ensure that such central bank lending be used for its intended purpose. A favorable reserve requirement ratio is granted to RCCs to help channel more funds to the agricultural sector. Third, reinforce financial service infrastructure in rural areas.