Another Milestone: "Guizhou Rural Commercial Union Bank" Enters Countdown, Guizhou Gold Control Group and Others May Join Stakeholders

Yet another province takes a crucial step in rural credit reform!

Recently, the official website of Guizhou Rural Credit Union announced that the union recently held a members' meeting and decided to establish Guizhou Rural Commercial Union Bank Co., Ltd. (provisional name) based on the foundation of the union. After its establishment, the original business, assets, and liabilities of Guizhou Rural Credit Union will be taken over by the new bank. However, the construction and launch are still pending approval from regulatory departments.

Since this year, rural credit reform has accelerated significantly. As of now, six provinces have established provincial-level rural commercial union banks, including Zhejiang, Shanxi, Sichuan, Guangxi, Jiangsu, and Jiangxi; four provinces have established provincial-level rural commercial banks, including Liaoning, Hainan, Henan, and Inner Mongolia.

The Guizhou Rural Credit Union is working on the reform of its rural credit system. In July, it held a meeting to discuss the establishment of Guizhou Rural Commercial Union Bank Co., Ltd. (provisional name) and authorized a working group to conduct the necessary work.

According to sources, the Guizhou Gold Control Group has expressed its willingness to participate in the reform process and provide support for the new bank's establishment.

Source: Guizhou Rural Credit Union