No, rural commercial banks were formerly local rural credit cooperatives, and all the credit cooperatives were renamed as local rural commercial banks. Anyone who calls the bank is under the supervision and management of the CBRC. Changchun Rural Commercial Bank Co., Ltd., formerly known as the joint business department of Changchun Rural Credit Cooperative Union, was established in June 1994 1 1. It is a first-class corporate financial institution based in the urban area, integrating deposit, loan and settlement. Under the spring breeze of the rural financial reform policy, with the careful care and strong support of the provincial association, and with the hard work of all cadres and employees, the benefit scale and asset quality have achieved unprecedented improvement. On July 29th, 2009, Changchun Rural Commercial Bank was formally established.