PRACTICAL EXPERIENCE WITH RURAL COMMERCIAL BANKS: A CASE STUDY OF THE REFORM OF RURAL CREDIT CO-OPERATIVES IN CHINA'S JIANGSU PROVINCE

摘要

At the end of 2001, three rural credit co-operatives (RCCs) in Jiangsu province were reorganised into rural commercial banks (RCBs) in accordance with the pilot reform scheme approved by the State Council. This reform marked a breakthrough in the long-standing perception that rural banks should be organised on co-operative basis. The pilot reform explored the possibility of RCCs' commercialisation by transforming them into joint-stock companies. It attracted wide public attention and provided important lessons for carrying out further reforms of rural finance.