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 PBC and CBIRC Issue Measures for the Assessment and Evaluation of Financial Institutions Serving Rural Revitalization
Category:Legislative Updates  
Subject:People and society   ; Finance  
Keywords:financial institution;  rural revitalization;  assessment and evaluation
Publish Date:06-10-2021
Recently, the People's Bank of China (PBC) and the China Banking and Insurance Regulatory Commission (CBIRC) jointly issued the Measures for the Assessment and Evaluation of Financial Institutions Serving Rural Revitalization.
First, in addition to highlighting financial support to the core fields and weak links of rural revitalization, the Measures clarify such content as the targets, indicators, methods, procedures, and results of evaluation, as well as the application of evaluation results. Furthermore, the Measures call for strengthening support to new agricultural management entities and small farmers as well. Second, the Measures further strengthen the incentive and restraint role of assessment and evaluation. Financial control departments willregard evaluation results as significant references for the performance of macro control and financial regulation including application of monetary policy tools, market access management, financial regulation rating, approval and establishment of institutions, and adjustments to business scope, for the purpose of urging and guiding financial institutions to redouble their efforts in supporting rural revitalization.
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