Bank regulator: Reports on rural credit co-ops wrong

The China Banking Regulatory Commission is denying recent dire reports claiming that 90 percent of rural credit cooperatives are on the verge of collapse.

The commission has led the rural credit cooperatives to vigorously promote reform and strengthen financial supervision since the cooperative system started in 2003. As of now, the rural credit cooperatives' average capital adequacy ratio has reached 8 percent, indicating that they are operating smoothly.

By People's Daily Online

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