Villagers in a remote county in northern China’s Hebei province will welcome the new year with broad smiles in their faces after sharing in a year-end bonus totalling more than 10 million yuan (US$1.54 million).
The money comes from a local cooperative, which was set up in 2007 and used to launch a scheme in 2012 that gave villagers shares in exchange for their idle funds which were then pooled to develop businesses as well as help members facing financial difficulties, Sing Tao Daily reported.
Any profit resulting from the operations of the money pool is distributed at the end of the year.
Officials of a village in Wangdu County, which is under the administration of Hebei’s Baoding City, announced the hefty profit last Saturday before the 484 families that make up the cooperative.
The money was laid out on a long table in bundles of one-hundred-yuan bills to give the villagers an idea of how much they have earned.
While each family only gets a little more than 20,000 yuan, the sight of the huge bundles of renminbi notes was mind-blowing for most of the villagers who hadn’t seen that much cash in their life. A netizen who saw a photo of the cash called it “The Great Wall of Money”.
Some netizens kidded that they were willing to kneel in front of the villagers just to be able to join the profit-sharing scheme.
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