The first provincial level financial poverty relief demonstration area will be established in Ningxia Hui Autonomous Region, according to the approval letter from the People’s Bank of China on March 2.
Through the construction of the area by promoting electronic management of financial service archives, conducting credit rating of eligible poor families, issuing micro-loans targeting poor people, and setting up service centers at each village, a multi-level, extensive, sustainable, competitive and risk controllable rural financial service system will be established in Ningxia within two or three years. Some 580,000 poor people, 800 poverty-stricken villages and 9 counties are expected to be lifted out of poverty during the period.
