According to a just released directive, the Chinese government will help to develop the banking industry in rural areas with new tailor-made financial organizations and products.

This move is expected to further promote small credit loan markets and micro-financing services. CRI Reporter Chen Xi has the details.

Like millions of returned jobless farmers, Tang Kai, who lives in Yilong county, Sichuan, always hoped to improve the family financial situation by starting a business in aquaculture after losing his job in coastal cities.

However, insufficient financial services in countryside have prevented him from getting a reasonable stake. Now his situation has changed drastically.

Tang Kai said he has received the loan that he has dreamed of after raising the application to a local bank.

"I've planned to start an aquaculture business and just after few days of the evaluation from the bank, I got my loan."

There are many other farmers like Tang Kai who have successfully acquired their banking loans to run their own businesses thanks to a national incentive to encourage and support more financing bodies to promote their products and services in rural regions.

Zang Jingfan, a senior official with the China Banking Regulatory Commission, the country's banking watchdog, detailed its blueprint in the coming three years.

"In terms of supervision, we think that large and medium-sized banks should actively fulfill their social responsibility while following the principles of reform. The number of sub-branches at county level should be maintained. They are also motivated to increase pilot offices below the level."

The official said an all-round financial network nationwide would be established targeting rural clients in the next three years.

Figures from China Banking Regulatory Commission show that more than 100 new grass-root rural financial institutions were approved last year, including village and county banks, loan companies and rural mutual cooperatives that have issued loans of nearly four billion Yuan or 571 million US dollars to small enterprises and farmers.

Financial experts of a government think-tank also say that the new move has demonstrated Chinese policy-makers' determination to overcome the bottleneck of the rural development.

They also suggested that banks in China should issue more financial products which are conducive to agricultural production and adapted to loaning markets in the countryside.

Chen Xi, CRI News.