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Lenders urged to enhance rural financial support

(Xinhua)
Updated: 2009-06-17 11:56

Chinese Vice Premier Wang Qishan said Tuesday that rural financial institutions should step up innovation and diversify sources of rural credit for farmers.

In a visit to the northwestern Ningxia Hui autonomous region, Wang visited local banks to discuss their asset quality and risk controls.

Related readings:  China announces $10b rural support  China vows rural support amid slowdown  Rural support scheme helps Shaanxi farmers  China's rural support loan balance reaches over US$305b by May

Wang said that uncertainties remained on the road to world economic recovery. Local authorities should follow the central government's strategy of maintaining economic growth, boosting domestic spending and restructuring the economy.

He said local lenders should give market forces full play in allocating financing and keep the rural financial system in order.

He urged local officials to keep alert to financial risks and step up oversight as they promoted innovation.