An essential aim of the Chinese government's agricultural policy has been to meet the basic capital requirements of agriculture, the countryside and peasants, and to provide them with comprehensive financial services. Over the last twenty or more years of reform, the Chinese government has made every effort to ensure the realisation of this policy objective through the establishment of a complete system of financial organisations. This paper starts with the history and current situation of the system of financial organisations in the Chinese countryside, emphasising the division of responsibilities and functions among them. It indicates various capital requirements by the pluralistic business entities in China's countryside, various functional orientations of the pluralistic rural financial institutions, and concludes that, at present, the choices made are reasonable ones. However, in light of the functional defects of China's current system of rural financial organisations, the author puts forward his ideas on innovative reforms of rural financial organisations.
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