There is now a consensus that in the 1980s and 1990s (and even in the 1970s) technological progress has been favouring educated and highly trained workers.12 For example, the private return on education in Europe and the US rose from about 6.5%-7.5% in the early 1970s to 10% in the early 1990s.
This marks a new step forward for Anhui's rural financial development. When promoting the bankcard services for farmers, PBC sub-branches made careful preparations; banking regulatory bureaus at provincial and municipal level actively rendered support to various card issuing institutions; China Union Pay and RCCs overcame difficulties and exhibited impressive team spirit.