Resolution regimes need to be not only operational on paper, but also credible in practice. During a crisis, it ultimately requires political will to implement rules and plans that were made ex ante. Removing obstacles to resolution can tilt the balance and enhance credibility.
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.