It was reported that Chenzhou Rural Commercial Bank Co., Ltd. (short for Chenzhou Rural Commercial Bank) was formally founded on June 23, 2014, which significantly showed the reform handled out for Chenzhou city’s rural credit cooperative.

Chenzhou Rural Commercial Bank which was a regional financial institution with shareholding system established by some natural persons and non-financial institutions of China was approved by China Banking Regulatory Commission and founded on the basis of some rural credit cooperatives of Beihu district and Suxian district. It was the forth municipal level rural commercial bank of Hunan province formed by combination of credit cooperatives in urban areas. 47 branches of the Chenzhou Rural Commercial Bank were set in the towns and counties of both Beihu district and Suxian district. Till the end of this May, the total deposit balance and loan balance of the bank hit 6.126billion yuan and 4.051billion yuan respectively.

In the inaugural meeting & first session of first stockholder’s meeting, “establishment working report for Chenzhou Rural Commercial Bank Co., Ltd.” was delivered, some regulations and rules were voted through, first board of directors and board of supervisions were elected out, the director and deputy director of board of directors, director of board of supervisions were elected out, and president, vice president and some senior executives were appointed to their positions.

Zhang Aiguo- Member of Chenzhou Municipal Party Committee and Deputy Mayor of Chenzhou City stated on the inaugural meeting that the establishment of Chenzhou Rural Commercial Bank met the national new rural financial policies and met the demands of financial service for Chenzhou city’s economic and social development as well. It should be improved to be a modern shareholding rural financial enterprises to serve for Chenzhou city’s “three rural” issues, medium and small size enterprises and urban economic development and contribute more to support Chenzhou city’s continuous, rapid and healthy development of economy and society.