The opening ceremony of Chenzhou Rural Commercial Bank Co., Ltd.

The opening ceremony of Chenzhou Rural Commercial Bank Co., Ltd.

It was reported that the opening ceremony of Chenzhou Rural Commercial Bank Co., Ltd. (short for Chenzhou Rurual Commercial Bank) was held on August 21, 2014. Xiang Lili- Secretary of Chenzhou Municipal Party Committee attended the opening ceremony and officially announced its opening up. Qu Hai- Deputy Secretary of Chenzhou Municipal Party Committee and Mayor of Chenzhou City attended the ceremony and addressed a speech there. Li Ping- Member of Chenzhou Municipal Party Committee Standing Committee and Deputy Mayor of Chenzhou City hosted the ceremony.

Chenzhou Rural Commercial Bank is formed by former Rural Credit Cooperatives of Beihu district and Suxian district, which is the exclusive municipal corporate financial institute, covering 47 business networks- one sales department and 47 branches. 24 towns and counties and 10 sub-districts of the two districts, amounting to 659,000 rural and urban residents were covered into its financial service range. The reform of Chenzhou rural commercial bank was launched in May of 2011. With over 3 years great efforts, it was approved by China Banking Regulatory Commission to start the preparation work on this January 7 and was approved by China Banking Regulatory Commission Hunan Supervision Bureau to start business on this July 30. It was officially inaugurated on this August 21. Till the end of this July, the total deposit balance of all branches was amounted to 6.768billion yuan, loan balance was over 3.996billion yuan and the ownership interests were 735million yuan.

Qu Hai stated that Chenzhou city paid high attention on the development of financial industry and specified its target on the establishment of the city with sound financial ecology to promote the sound improvement of the state owned commercial banks and introduce some regional stock-holding bank. The restructuring of Rural Credit Cooperatives of Beihu district and Suxian district to be Chenzhou Rural Commercial Bank was the priority among priorities of the financial reform. Assisted with all departments’ efforts and supports, Chenzhou Rural Commercial Bank was inaugurated and opened up finally, which highly indicated the successful operation for Chenzhou city’s deepening financial reform and enhancement of financial support. It would be greatly helpful to upgrade Chenzhou city’s comprehensive power of financial industry and provide more powerful support for Chenzhou city’s economic and social development.

Zhang Zhijun- President of Association of Hunan Rural Credit Cooperatives and some municipal leaders of Chenzhou city attended the opening ceremony.