Difficulties Facing the Rural Microfinance in Chongqing City and Suggested Countermeasures

Abstract

Rural microfinance plays a significant role in promoting the development of rural economy and in accelerating the building of a new socialist countryside; in particular, it could boost the growth of rural collective organizations, agricultural cooperatives, family farms and rural micro-enterprises, as well as meet their need for capital funds. Chongqing, as the sole municipality in west China, is to build the western financial center. Besides, faced with the circumstances of being a large city with large rural areas and mountainous areas, and with the arduous task of realizing urban and rural development, developing rural microfinance in Chongqing, therefore, is of immense necessity and importance. This paper conducts a specialized study on the development of rural microfinance in Chongqing city, in the process of which the author locates many difficulties still facing its development, then countermeasures are suggested to cope with them.
Key words: Rural microfinance; Development; Difficulties; Countermeasures; Chongqing