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Is the Rural Cooperative Foundation legal?

The Rural Cooperation Foundation is a mutual aid organization within the community that serves agriculture, farmers, and rural areas. It is not a financial institution.

The Ministry of Agriculture is responsible for formulating relevant policies and regulations and guiding the management and development of rural cooperative foundations.

The local agricultural administrative department is the competent department of the Rural Cooperation Foundation.

The People's Bank of China supervises the business activities of rural cooperative foundations in accordance with the law, and works with the agricultural administrative department to deal with deposit and loan businesses that violate regulations.

Rural cooperative foundations must safeguard their legitimate rights and interests and regulate their behavior. Relevant departments must continue to guide and support the healthy development of rural cooperative foundations.

Stay in the right direction.

It is necessary to achieve the "four insistences" and "four preventions": that is, to maintain mutuality and prevent the establishment of financial institutions; to maintain community character and prevent capital outflow; to maintain mass character and avoid taking the "government-run" path; to maintain democracy and prevent it from becoming a financial institution.

"Little treasury" for leading cadres.

Establish and improve systems.

Strengthen supervision and management.

Through the above work, we must ensure that the direction of the conference is correct and the quality of the conference is improved.