China's top banking regulator has promised to deliver basic financial services to every town across the country within three years in an ambitious programme supported by China's largest state-owned banks.
“The problem of inadequate rural financial services in less developed areas is still very prominent, and in the remote township level is even more apparent,” Liu Mingkang, chairman of the China Banking Regulatory Commission said on Friday.
Mr Liu said the aim was to provide financial services for every town-level administrative region. China has 35,000 town and township-level administrative areas, each of which has a population of roughly 20,000.
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