China to pilot inclusive finance reform in 3 cities

China to pilot inclusive finance reform in 3 cities

CHINA will carry out pilot inclusive finance reform in three cities, the country’s central bank said on Wednesday.

Trials will be conducted in Tongchuan, Northwest China’s Shaanxi Province, Lishui in east China’s Zhejiang Province, and Chengdu, capital of Southwest China’s Sichuan Province,

This is according to the plans released by the People’s Bank of China and seven relevant authorities.

The authorities said that the plans would optimise the rural financial systems and improve financial support in key areas.

Carrying out inclusive financial reform trials in the three cities would help explore an effective path for inclusive finance to foster rural vitalisation, the central bank said.

The Central Bank and relevant departments would guide the provincial governments of Shaanxi, Zhejiang, and Sichuan to advance implementation of the plans.

The Central Bank and relevant departments would also ensure that all reform measures in the pilot zones were carried out in a sound and orderly manner. (Xinhua/NAN) 

A.I