China to pilot inclusive finance reform in three cities

China will carry out pilot inclusive finance reform in three cities, the country’s central bank said Wednesday.

Trials will be conducted in Tongchuan, northwest China’s Shaanxi Province, Lishui in east China’s Zhejiang Province, and Chengdu, capital of southwest China’s Sichuan Province, according to the plans released by the People’s Bank of China and seven relevant authorities.

The plans would optimize the rural financial systems and improve financial support in key areas.

Carrying out inclusive financial reform trials in the three cities will help explore an effective path for inclusive finance to foster rural vitalization, the central bank said.

The central bank and relevant departments will guide the provincial governments of Shaanxi, Zhejiang, and Sichuan to advance the implementation of the plans and ensure that all reform measures in the pilot zones are carried out in a sound and orderly manner.

Originally published by Xinhua