On June 19th, Blue Whale News (Reporter Jin Lei): Following the approval of the establishment of Shanxi Rural Commercial United Bank at the end of last year, Shanxi Province's rural credit reform has made new progress.
On June 18th, the Shanxi Zhongyang Rural Commercial Bank and its branches were approved for opening by the Lvliang Regulatory Branch of the National Financial Supervision and Administration Bureau.
It is reported that the registered capital of the bank is RMB 328 million, it is a joint-stock rural commercial bank, and implements a management system of one-tier legal person, unified accounting, hierarchical management, and authorized operation.
At the same time as the opening of Shanxi Zhongyang Rural Commercial Bank, the original Zhongyang County Rural Credit Cooperative Union terminated itself, and its creditor's rights and debts were transferred to the bank.
Zhongyang is a county under the jurisdiction of Lvliang City in Shanxi Province. According to incomplete statistics from Blue Whale News, Shanxi Zhongyang Rural Commercial Bank is the first county-level rural commercial bank opened in the urban area in rural credit reform this year. The bank sets up 6 branches, 5 branch offices, and 2 savings offices in the 6 credit cooperatives, 5 branches, and 2 savings offices of the original Zhongyang County Rural Credit Cooperative Union, and is approved to start operations.
At the same time, the regulatory authority approved the qualifications of several executives of Shanxi Zhongyang Rural Commercial Bank. These include approving Wang Lixian's qualifications as chairman of Shanxi Zhongyang Rural Commercial Bank Co., Ltd.; approving Wei Haihong's qualifications as president of Shanxi Zhongyang Rural Commercial Bank Co., Ltd. and qualifications of other directors.
On January 4th this year, the Shanxi Financial Supervision Bureau issued a reply on the establishment of Shanxi Zhongyang Rural Commercial Bank, agreeing to establish the bank.
According to the charter of Shanxi Zhongyang Rural Commercial Bank, the bank is a locally-owned joint-stock rural commercial bank with independent legal personality, established on the basis of Zhongyang County Rural Credit Cooperative Union, voluntarily accepting the industry management of Shanxi Rural Commercial United Bank, and actively fulfilling social responsibilities.
On November 17, 2023, Shanxi Rural Commercial United Bank was officially unveiled and opened, becoming another significant achievement of provincial-level institution reform of rural credit cooperatives in the country.
It is understood that the equity relationship of Shanxi Rural Commercial United Bank is the 'upper participation and lower participation' model. The so-called 'upper participation and lower participation' model is to reconstruct the equity relationship between the two-tier legal persons while maintaining the status quo of the legal persons at the provincial and county levels of rural credit cooperatives and the stability of the county-level legal institutions.