Recently, Rucheng County government signed a political banking business cooperation agreement with Hunan Ningxiang Rural Commercial Bank to jointly set up Rucheng Xinyang Rural Bank, which is the first rural bank in the county.
It was reported that the main sponsor of Rucheng Xinyang Rural Bank was Hunan Ningxiang Rural Commercial Bank, which was founded in November 30, 2011 and the predecessor of Ningxiang County Rural Credit Cooperatives, 65 years of development. The bank is a joint-stock local legal institution which was based on the county economy and adhered to the business purpose of serving "three rural" with the market orientation of "farmer bank, community bank, and small and medium micro enterprise bank". At present, the Ningxiang Rural Commercial Bank deposits amounted to 24.8 billion yuan and the business scale ranked 4th in the whole province, the 8th listed agricultural commercial bank in the whole province.

The settlement in Rucheng County is to expand their business scale and give full play to local characteristics of rural bank to provide financial support for the economic and social development of the county. The establishment of Rucheng Xinyang Rural Bank will further activate the regional financial market and increase the supply of financial services, effectively improve the financial service level of serving "three rural" and small and micro enterprises, play an important role in the county's poverty alleviation, industry development and the increase of farmers' income, and provide comprehensive, multi-level, high quality, efficient and convenient comprehensive financial services for the people of Rucheng County to promote the rapid and good development of the economy and society in Rucheng County. Rucheng County will also support the establishment and development of Rucheng Xinyang Rural Bank, ensure the steady progress of the preparation work and the successful opening of the bank as scheduled, establish a long-term and stable cooperative relationship between the bank and the government's strategic partners, and give full play to the advantages of local characteristics and mechanisms of rural bank to help the rapid economic and social development in Rucheng.