At the end of 1970s, with the gradual deepening of China's economic system reform, a few urban credit cooperatives appeared in some areas. 1979 Zhumadian, Henan established the first urban credit cooperative in China. Before 1986, the number of urban credit cooperatives was about 1300, with total assets of about 3 billion yuan. 1986 1 the State Council issued the Interim Regulations on the Administration of Banks in People's Republic of China (PRC), which clarified the status of urban credit cooperatives. In June of the same year, the People's Bank of China issued the Interim Provisions on the Administration of Urban Credit Cooperatives, which stipulated the nature, service scope and establishment conditions of urban credit cooperatives. Since the mid-1980s, the establishment of urban credit cooperatives has been accelerated. At that time, it was mainly established in large and medium-sized cities above the prefecture level, but some places also set up urban credit cooperatives in counties (cities). With the large-scale establishment of urban credit cooperatives nationwide, in order to strengthen management, the People's Bank of China promulgated 1988 Regulations on the Administration of Urban Credit Cooperatives in August, which improved the conditions for the establishment of urban credit cooperatives and increased the registered capital from 100 yuan to 500,000 yuan. By the end of 1989, there were 3,330 urban credit cooperatives with total assets of 28.4 billion yuan.
1989 In the first half of the year, according to the rectification spirit of the central authorities, the People's Bank of China organized the rectification of urban credit cooperatives.
1990- 199 1 During the period, all localities controlled the scale of newly established institutions and merged urban credit cooperatives with poor management. In the past two years, 253 institutions have been established and 75 institutions have been abolished. By the end of 199 1, there were more than 3,500 urban credit cooperatives in China, with total assets of 49.7 billion yuan and more than 77,000 employees.
1990, the pilot work of urban credit cooperatives started.
1992 after the rectification, China's economy has entered a period of rapid development, and the requirements for all walks of life to bid for urban credit cooperatives are very strong. During this period, the number of urban credit cooperatives expanded sharply, and most counties (cities) established urban credit cooperatives. At the end of 1993, there were nearly 4,800 urban credit cooperatives, more than 1200 at the end of199/kloc-0, with total assets of187.8 billion yuan and employees of123,000.
1993 since the second half of the year, the people's bank of China has made great efforts to clean up and rectify the financial order. The Head Office has ordered all provincial branches to stop approving new urban credit cooperatives from 1 July, 9931,suspend the use of indicators that have been issued but have not been used up, and clean up the problem of ultra-scale approval of urban credit cooperatives. After the implementation of this spirit, most places have not approved new urban credit cooperatives.
Starting from 1995, according to the instructions of the State Council, some prefecture-level cities have established city commercial banks on the basis of city credit cooperatives. In March of the same year, the People's Bank of China issued the Notice on Further Strengthening the Management of Urban Credit Cooperatives, which made it clear in the form of a document: "In the process of establishing national urban cooperative banks, no new urban credit cooperatives will be approved. After the issuance of this notice, the examination and approval of urban credit cooperatives across the country basically stopped.