Perhaps we will find out soon whether the microlending model pioneered by Muhammad Yunus can be effective over here.

It was announced today that "Citibank and Grameen Trust are following HSBC to take part in a Chinese pilot programme for expanding financial services in the countryside."

Cool stuff - read more from Reuters here. It will be interesting to see what the pilot program looks like once it gets localized and how it differs from the highly-successful original in Bangladesh.