Baotou City Rural Credit Cooperatives Microfinance

Dr.Muhammad Yunus created micro-credit in Bangladesh in1976. It had made significant achievements in the field of poverty about eradication and economic development. Micro-finance,as a new type of product innovation, has aroused widespread concern around the world attention and promotion. Since1970s, the micro-credit system of market economy alleviated for the poor population to explore an effective financial service to achieve sustainable development path, and thus it had been widely recognized in the international community and developing countries.In the backdrop of the global financial crisis, China made a response to the crisis taken to expand domestic demand and a series of economic measures to solve these problems foothold in China’s huge financial markets. Therefore, the "Three Rural Issues" has now become a key to transform China’s economic strategy and to solve the "three rural" which is the rural areas to provide adequate level of financial services. The development of rural credit cooperatives of micro-credit solves the financial needs of the rural part of the low-income groups, and innovates elements involved in China’s rural credit cooperatives,micro-credit market, which promotes competition and development of the microfinance market in rural credit cooperatives. Therefore, the economic and social impact is enormous.Agricultural loans in Baotou, which is located in the Inner Mongolia, is a significant increase in investment by improving productivity and high chemical, biological and mechanical technology to obtain a higher income of farmers. Increasing rural credit cooperatives in Baotou, can greatly promote these new technological use and growth of local agriculture. Local farmers have become to increase the borrowing necessary to transform the rural credit cooperatives and micro-credit market. This situation gives the current, accurate and comprehensive evaluation of the impact to explore the manipulation of processes and solutions to the problem, and thus the corresponding feasible policy recommendations for further improvement in Baotou, rural credit cooperatives as microfinance to play the rural credit cooperatives as well as micro-credit services and to alleviate the poverty development of the Baotou region have important theoretical and practical significance.