Abstract:This paper overviews the rural financial reform and the restructuring of the rural credit cooperatives in the past 20 years.Eight major aspects are discussed to introduce new ideas and a framework for the further reform.Several crucial conclusions are drawn as follows.Firstly,the property reform is essential.Secondly,the construction of rural financial system should includes multiple product supply,competition and profitability as a whole.Thirdly,economy of sacle is the first operating target that the rural credit cooperatives should pursue.Fourthly,the stock of NPL as an institutional heritage must be resolved with reform.Finally,the bankruptcy and local administrative intervention should be treated prudentially.

Keywords:rural credit cooperatives,rural financial system reform,path-selection

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