Rural credit cooperatives are cooperative financial organizations composed of farmers who hold shares, implement democratic management by the members, and mainly serve the members. They are legal financial institutions established with the approval of the People's Bank of China in accordance with the law.

Rural credit cooperatives are an important part of China's financial system. Their main task is to raise idle funds in rural areas and provide financial services for the development of agriculture, farmers and rural economy.

At the same time, organize and regulate rural funds, support agricultural production and comprehensive rural development, support various forms of cooperative economy and member family economy, and limit and combat usury.

Rural credit cooperatives (referred to in Chinese as rural credit cooperatives, rural credit cooperatives) refer to rural cooperative financial institutions established with the approval of the People's Bank of China, composed of members as shareholders, practicing democratic management, and mainly providing financial services to members.

Rural credit cooperatives are independent corporate legal persons. They bear responsibility for the debts of rural credit cooperatives with all their assets and enjoy civil rights in accordance with the law.

Its property, legitimate rights and interests and business activities carried out in accordance with the law are protected by national laws.

Its main task is to raise idle funds in rural areas and provide financial services for the development of agriculture, farmers and rural economy.

In accordance with national laws and financial policies, organize and regulate rural funds to support agricultural production and comprehensive rural development, support various forms of cooperative economy and member family economy, and restrict and crack down on usury.

2. Rural credit cooperatives are bank-type financial institutions. The so-called bank-type financial institutions are also called depository institutions and depository money banks. Their unique characteristics are that they take deposits as their main liabilities, grant loans as their main assets, and handle transfers.

Settlement is the main intermediary business and is directly involved in the creation process of deposit currency.

Rural credit cooperatives are also credit cooperative institutions. The so-called credit cooperative institutions are cooperative financial institutions jointly formed by individuals to raise funds with the main purpose of mutual assistance. They are referred to as "credit cooperatives". They carry out deposits and loans among members for the purpose of mutual aid and self-help.

business.

The establishment of credit cooperatives is directly related to the development of natural economy and small commodity economy.