HSBC gets rural foothold in China

时间：2007-08-11 02:32:15

（单词翻译:单击）

BEIJING, Aug. 10 - HSBC has got the nod from China's banking1 regulator to set up a village bank in the central province of Hubei, becoming the first foreign bank to expand its business in the country's vast rural areas, HSBC announced on Thursday.

 

"The new bank will provide financial service tailored to rural communities and local enterprises," said Vincent Cheng, chairman of the HSBC Bank (China) Company Ltd.

 

Chinese farmers and rural enterprises currently have few places to get funds for their businesses. Official figures show Chinese farmers rarely obtain loans of more than 5,000 yuan.

 

On Monday, the China Banking Regulatory Commission (CBRC) vowed2 to help more banking institutions to extend service in the rural areas as a way to upgrade the country's under-developed rural banking sector3.

 

At the end of 2006, the CBRC scrapped4 working capital limits for domestic financial institutions in rural areas so that banking networks could be developed in the countryside.

 

It also lowered the registered capital threshold to 3 million yuan (385,000 U.S. dollars) for banks in counties and 1 million yuan in villages and towns.

 

The CBRC has approved six pilot schemes in six provinces including Qinghai and Gansu. Two of them -- Huimin village bank and Huimin finance company -- began operations last Thursday in Yilong county of southwest China's Sichuan Province.

 

HSBC has developed financial business in rural areas in Brazil, India, Indonesia, Philippine and Mexico.

 
分享到：


点击收听单词发音收听单词发音  

1 banking aySz20     
n.银行业，银行学，金融业
参考例句：
  • John is launching his son on a career in banking.约翰打算让儿子在银行界谋一个新职位。
  • He possesses an extensive knowledge of banking.他具有广博的银行业务知识。
2 vowed 6996270667378281d2f9ee561353c089     
起誓，发誓（vow的过去式与过去分词形式）
参考例句：
  • He vowed quite solemnly that he would carry out his promise. 他非常庄严地发誓要实现他的诺言。
  • I vowed to do more of the cooking myself. 我发誓自己要多动手做饭。
3 sector yjczYn     
n.部门，部分；防御地段，防区；扇形
参考例句：
  • The export sector will aid the economic recovery. 出口产业将促进经济复苏。
  • The enemy have attacked the British sector.敌人已进攻英国防区。
4 scrapped c056f581043fe275b02d9e1269f11d62     
废弃(scrap的过去式与过去分词)； 打架
参考例句：
  • This machine is so old that it will soon have to be scrapped. 这架机器太旧，快报废了。
  • It had been thought that passport controls would be scrapped. 人们曾认为会放开护照管制。

©2005-2010英文阅读网