Rural cooperatives find second life in today's market economy

Before its fortunes waned in the '90s, the All China Federation of Supply and Marketing Cooperatives was long considered the link between the country's rural and urban economies.

And now that it is back in health, China's largest cooperative organization promises to relive its glory days by playing a major role in building a new countryside.

The All China Federation of Supply and Marketing Cooperatives saw its profits increase by 21 percent year-on-year last year to 7.95 billion yuan ($1billion), according to Bai Lichen, president of the federation's board.