From Forbes.com (link):
China’s State Council said it will allow private and foreign firms to buy stakes in rural financial institutions, as Beijing turns its attention to its most debt-ladened and politically sensitive lenders.
The country’s cabinet said in a statement that rural financial institutions at county level will be able to diversify their ownership structure as long as they satisfy capital adequacy requirements and strict supervision mechanisms.
‘Private capital and foreign investors will be allowed to buy stakes in community financial institutions in rural areas,’ the statement said. na’s State Council said it will allow private and foreign firms to buy stakes in rural financial institutions, as Beijing turns its attention to its most debt-ladened and politically sensitive lenders.
