From 65438 to 0998, Hainan Development Bank triggered a debt crisis and declared bankruptcy in the case of insolvency. It also became the first bankrupt bank in China. Subsequently, the second rural credit cooperative in Suning, Hebei Province entered bankruptcy proceedings, mainly because of poor management, which led to "insolvency" and was also the first bankruptcy credit cooperative. Then Shantou Third Commercial Bank, which is composed of 13 credit cooperatives, also has two problems. One is that high interest rates attract customers' savings, and the other is that senior managers misappropriate funds, resulting in bad debts as high as 4 billion yuan, which was directly ordered by the central bank to stop rectification. After these three banks, the fourth insolvent bank is Baoshang Bank.