Rural Cooperative Finance Committee was set up on Dec 26, 2005. Mr. Yuan Mingjie, President of Chongqing Rural Credit Union was elected Director of the Committee.

The Committee aims at protecting the interests of rural cooperative financial institutions, improving quality of rural cooperative financial employees, enhancing services provided by rural cooperative financial institutions and promoting sustainable development of rural cooperative financial institutions in China.

Duties of the Committee include:
• Study developing trends and draw up development strategies for rural cooperative finance; deal with common issues existing along development of rural cooperative financial institutions, promote sustainable development of rural cooperative financial institutions and increase support for dealing of issues of the countryside, farmers and agriculture;
• Urge compliance of rural cooperative financial institutions; set up standards, regulations, code of conduct and a faith system for rural cooperative financial institutions to improve services provided in the industry;
• Strengthen researches and development of rural financial market and products, enhance innovation, develop a network for rural cooperative financial institutions, and promote micro financing and payment services suitable for farmers¡¯ needs;
• Organize formulation of rights protection agreements in order to safeguard interests of rural cooperative financial institutions; coordinate with judicial and administrative organs, actively participate in decision expounding concerning rural cooperative financial reforms and interests of rural cooperative finance, and make suggestions on policies, legislation and planning of rural cooperative finance; organize survey on rights protection of the industry, indicate to members relevant risks and assist members in rights protection and risk management;
• Coordinate with the government and other organs, assist organs such as CBRC in implementation of related policies and regulations and try to foster a favorable external environment for development of cooperative finance; coordinate among members, set up a dispute settlement mechanism and foster a favorable internal environment; strengthen communications with the general public, induct public opinions, safeguard reputation of rural cooperative finance and set up a positive industry image;
• Organize formulation of services agreement and improve services provided to rural economic development; set up an information exchange system and organize communications and cooperation in operation, techniques and information to realize sharing of information; set up certification standards for rural cooperati on financial employees and organize certification examinations; organize training for employees in rural credit unions to improve their quality; organize business competition and foster a healthy industry culture; organize communications and cooperation with overseas counterparts;
• Provide guidance in reforms of rural cooperative financial institutions, strengthen construction of internal control, increase transparency of decision making, and form an internal control system with mutual constraint among decision making, implementation and supervision.