New creative rural credit system feeds farmers' businesses

LANZHOU - Yu Shunyuan used to worry about not having enough money to buy fodder. But now, a credit system built by rural credit cooperatives or RCCs is feeding his business.

More than 10 years ago, Yu started a pig farm in Lijiagou village in Northwest China's Gansu province. He raised more than 100 pigs and was always in dire need of cash when it came to buying piglets and fodder, as well as vaccinations.

"Borrowing money was killing me," Yu said. "I didn't have anything to pledge as collateral, and loans from friends sometimes hurt our relationship." Things changed after the village, in Gaolan county, was named a "Credit Village" by the county's RCC, thanks to the locals' good credit records.