China's rural banking sector is experiencing a significant wave of reform and restructuring, with many rural banks announcing their dissolution and being taken over by other financial institutions. According to the official website of the Financial Regulatory Bureau, seven rural banks under Zhangjiakou Bank have completed the acquisition process and received formal approval for dissolution on December 13th. At the same time, 21 branches established by Zhangjiakou Bank were also approved for opening on the same day. This restructuring action marks the successful completion of Zhangjiakou Bank's reform of all its rural banks.
Specifically, the seven rural banks include Kangbao Yinfeng Rural Bank, Chicheng Jiaying Rural Bank, Zhangbei Xinda Rural Bank, Zhangjiakou Xuanhua Jiaying Rural Bank, Tangshan Kaiping Huijin Rural Bank, Weixian Yintaie Rural Bank, and Zhangjiakou Wanquanjia Rural Bank. All the assets, liabilities, business, employees, and rights and obligations of these rural banks are fully inherited by Zhangjiakou Bank.
Zhangjiakou Bank's reform initiative is not an isolated case. At the same time, many other rural banks in Hebei Province are also undergoing similar reforms and restructuring. Wu'an Rural Bank was dissolved after being acquired by Handan Bank, while Guichang Manchu and Mongolian Autonomous County Huashang Rural Bank was acquired and dissolved by Chengde Bank. Kuangcheng Rongxing Rural Bank was absorbed and merged into Hebei Kuangcheng Rural Commercial Bank.
Not only in Hebei, but also in Liaoning Province, the reform and restructuring of rural banks is being actively promoted. The Liaoning Financial Regulatory Bureau approved the dissolution of Liaoning Shoushan Rural Bank, Liaoning Lianta Rural Bank, and Yingkou Hongcheng Rural Bank on December 13th, all of which ended their operations after being acquired by Liaoning Bank.
Industry experts point out that this reform approach of the main sponsor acquiring or absorbing and merging rural banks under its control is conducive to more effectively advancing the reform and risk mitigation process of rural banks. Dong Ximiao, Chief Researcher of Zhaolian, believes that the structural restructuring of rural banks in China will accelerate in the coming period, and the number of rural banks is expected to gradually decrease.
Zhangjiakou Bank, originally Zhangjiakou City Commercial Bank, was established in March 2003 and renamed Zhangjiakou Bank in March 2016. As of the end of 2023, Zhangjiakou Bank had 10 rural banks under its control. In August this year, Zhangjiakou Bank began to acquire three rural banks under its control and establish branches, and these three rural banks were approved for dissolution in September, followed by the opening of the three branches.
With the acceleration of the reform and restructuring of rural banks, industry insiders predict that this will help further improve the operational efficiency and risk prevention and control capabilities of rural banks, promoting the healthy development of China's rural financial market.
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