Hainan Kicks Off Overhaul of Rural Credit Unions

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As of the end of December 2021, Hainan’s rural credit system had total assets of $44.3 billion.

Southern China’s Hainan province kicked off an overhaul of rural credit unions by merging 20 small rural lenders into a rural commercial bank.

Qiongzhong Li & Miao Autonomous County Rural Credit Cooperatives Union Co. Ltd. said Monday that it is one of 19 rural credit cooperatives that are merging into Hainan Rural Commercial Bank along with Hainan Rural Credit Union.

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