1, classification
Local commercial banks refer to banking financial institutions whose business scope is restricted by regions. In China, local commercial banks mainly refer to city commercial banks and urban and rural credit cooperatives.
municipal commercial bank
City commercial bank is a local joint-stock commercial bank established by absorbing local finance and enterprises on the basis of assets verification of city credit cooperatives. Because city commercial banks are also joint-stock commercial banks, their legal business scope is the same as that of state-owned banks and national joint-stock banks. The difference is that the main function of these city commercial banks is to finance local economic development and provide financial services for the development of small and medium-sized enterprises in cities.
credit union
Credit cooperative is a cooperative financial organization with the purpose of mutual assistance and composed of individuals raising funds. Its basic business goal is to provide members with credit services with simple procedures and low interest rates, and to help individuals with weak economic strength solve financial difficulties in order to avoid high interest rate exploitation. Rural credit association
Rural credit cooperatives (hereinafter referred to as rural credit cooperatives) are financial institutions with legal personality, which are composed of farmers and collective economic organizations, democratically managed by shareholders and mainly serve shareholders. Rural credit cooperatives practice democratic management and are responsible for their own profits and losses. Rural credit cooperatives union is a joint organization composed of rural credit cooperatives in the county, which implements democratic management and mainly serves rural credit cooperatives. At the same time, the Federation implements coordination in the management and supervision of rural credit cooperatives.
urban credit cooperative
Urban credit cooperatives (hereinafter referred to as urban credit cooperatives) are urban cooperative financial organizations established by individual industrial and commercial households and urban collective enterprises, which are democratically managed by shareholders and mainly provide financial services to shareholders, and have legal personality. Urban credit cooperatives operate independently, conduct independent accounting and assume responsibility for their own profits and losses. Urban Credit Cooperatives Union is a financial institution funded by urban credit cooperatives, a joint organization of urban credit cooperatives and an independent enterprise legal person. The Union conducts centralized management, supervision, coordination and service for local urban credit cooperatives.
2. Development status
From 65438 to 0988, commercial banks named after cities appeared in Beijing. They were renamed from the original urban cooperative banks of various cities, and the original cooperative banks were local joint-stock commercial banks with shares jointly invested by urban enterprises, residents and local finance on the basis of the original urban credit cooperatives. At present, there are 1 12 city commercial banks in China.
Rural credit cooperatives have been the grass-roots organizations of Agricultural Bank of China in rural areas since its establishment, and have been separated from the agricultural bank system since the early 1990s. Rural credit cooperatives are composed of farmers and collective economic organizations, which are democratically managed by shareholders and mainly serve shareholders. At present, there are 35,544 rural credit cooperatives in China. In the late 1980s, in order to promote the development of local economy, many places began to set up urban credit cooperatives. Urban credit cooperatives are established by individual industrial and commercial households and urban collective enterprises, managed by shareholders democratically, and mainly provide financial services for shareholders. At present, there are 73 1 urban credit cooperatives in China.
3. Scope of business
rural credit cooperatives
According to the provisions of the People's Bank of China, the business scope of rural credit cooperatives mainly includes the following aspects:
Handle personal savings.
Handle the deposit and loan business of farmers, self-employed households and rural cooperative economic organizations.
Acting as an agent for banks to entrust business and handle other approved business.
urban credit cooperative
According to the provisions of the People's Bank of China, the main business of urban credit cooperatives is:
Handle the deposit, loan and settlement business of urban collective enterprises, individual industrial and commercial households and small state-owned enterprises that implement contract leasing.
Handle personal savings deposit business in cities and towns.
Handle the securities business approved by the People's Bank of China.
Insurance agency business and other collection and payment services.
municipal commercial bank
Absorb public deposits.
Issue short-term, medium-term and long-term loans.
Handle domestic and international settlement.
Handle bill discounting.
Issue financial bonds.
Agency issue and redemption.
Buying and selling government bonds.
Inter-bank lending
Buying and selling, acting as an agent to buy and sell foreign exchange.
Provide letter of credit service and guarantee.
Agency payment and insurance agency business.
Safe deposit box service is available.
Other businesses approved by the People's Bank of China.