China's rural financial system has changed dramatically over the last twenty five years, but rural financial reforms were lagging behind changes in the real economy and required further economic transition. As in other countries moving towards a market economy, the reform of banking systems and the creation of efficient financial markets in China continues to be among the most difficult reform issues. Poorly functioning official financial markets push rural population to rely on informal institutions. This set of circumstances encouraged the Chinese Ministry of Agriculture to request the OECD to organise the Workshop on Rural Finance and Credit Infrastructure in China to discuss the ways of establishing a comprehensive and efficient rural credit system providing finance for both the commercial (agricultural and non-agricultural) sector of the rural economy and small-scale farming in China.
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