WASHINGTON, April 17 (UPI) -- Rural banking is rising in less developed areas of China, indicating Beijing is ramping up rural development through the establishment of state-owned banks in the rest of the country.
The number of rural residents with a bank account was up 74 percent in 2014, reported The Wall Street Journal, up from 54 percent from 2011. The numbers indicate China's rural and urban populations are closing the gap on personal banking.