Financial Reform Bringing into Being a New Banking System in China ĦĦĦĦIn recent years there has been developed a new commercial banking system in China. As it has been reported, forming of 88 bank branches and over 3,200 credit cooperatives in cities and over 44,000 credit cooperatives in the rural areas and run with a total of 2.1 trillion of assets, it has become an important force in the whole Chinese financial system. By its financial operation and issuance of loans with a large labor force employed, it has helped on behalf of the whole Chinese financial system in shouldering the heavy load in developing the Chinese economy. Economicnews 1999-02-11 Page2 Full Story in Chinese