In recent years, ARDY insisted on providing services to low-income populations and promoting rural development. The Association has reformed the internal management’s responsibilities, power, and benefit. It has also established a sound regulatory and credit management system along with a scientific microfinance model. All of these produced good results and attracted the People’s Bank and the Banking Bureau to come to ARDY to learn about its mechanism. In addition, the Agricultural Bank, credit unions, Huimin Village Bank, and other major investment companies all had intentions to cooperate with the Association regarding financial services in rural areas.
On November 20, 2007, Huimin Village Bank Director Tang and Director Cai came once again to ARDY. They discussed with Secretary General Gao XiangJun and the representatives of the credit, development, and financial departments about a plan for cooperation. The two sides conversed about having the bank entrust loans, buy shares, and take over some of the financial business.
(Translated by Jennifer Yau)