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Standard Chartered Helingeer Village Bank in Operation

Wed. February 11, 2009; Posted: 06:05 AM
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INNER MONGOLIA, Feb 11, 2009 (SinoCast Daily Business Beat via COMTEX) -- VBKC | Quote | Chart | News | PowerRating -- CEO of Standard Chartered Bank (China) Limited tells the strategic intention, operation, and competitiveness of its first village bank in Helingeer, Inner Mongolia Autonomous Region.

The CEO says that the Chinese government has launched stimulus policies, like the adjustment of rural farmland, after the breakout of the global financial crisis, showing that the government pays much attention to the rural development.

Inner Mongolia, which takes 1/8 of the nation's land and gathers a large number of agricultural and livestock husbandry companies, saw its annual gross domestic product (GDP) to rise in two-digit, which provides a fine platform for the sustainable development of the village bank.

The CEO reiterates that the bank plans to open more village banks if the Helingeer village bank operates as much as well. The village bank, with registered capital of CNY 10 million, is mainly engaged in the deposit and loan business, having 14 employees now.

Source: www.cnstock.com (February 11, 2009)

For full details for VBKC click here.

    


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