Dayang Net News (Guangzhou Daily reporter Bi Zheng, correspondent Lai Guohui) Guangzhou Rural Commercial Bank Co., Ltd., the first rural commercial bank successfully restructured and established in the rural credit cooperative system of Guangdong Province, opened for business today. Huang Huahua, deputy secretary of the Guangdong Provincial Party Committee and Governor, Zhu Xiaodan, member of the Standing Committee of the Provincial Party Committee and secretary of the Guangzhou Municipal Party Committee, Zhang Guangning, deputy secretary of the Guangzhou Municipal Party Committee and mayor, and Jiang Liming, deputy director of the Cooperation Department of the China Banking Regulatory Commission, also unveiled the name of Guangzhou Rural Commercial Bank. Secretary-General of the Provincial Government Xu Shangwu, Chairman of the CPPCC Zhu Zhenzhong, Deputy Secretary-General of the Provincial Government Li Handong, Deputy Secretary of the Municipal Party Committee and Secretary of the Political and Legal Affairs Committee of the Municipal Party Committee Zhang Guifang, Member of the Standing Committee of the Municipal Party Committee and Executive Vice Mayor Wu Yimin, Member of the Standing Committee of the Municipal Party Committee and Minister of the United Front Work Department Kong Shaoqiong, Vice Mayor Chen Leaders of the country, including Vice Chairman of the CPPCC Su Zhigang and Vice Chairman of the CPPCC Ping Xinguang, attended the event.

Zhang Guangning said in his speech that the restructuring of Guangzhou Rural Credit Cooperatives to establish Guangzhou Rural Commercial Bank is a major decision made by the provincial party committee, provincial government and China Banking Regulatory Commission. The Guangzhou Municipal Party Committee and Municipal Government attach great importance to the reform and development of Guangzhou Rural Credit Cooperatives and make every effort to promote the restructuring of rural credit cooperatives. Through hard work, the rural credit cooperatives have completed the reform of the property rights system and management system, and basically established a corporate governance structure; they have collected non-performing loans, and implemented capital increases and share expansions. Asset profitability and operating quality have been significantly improved, and financial service capabilities have been significantly enhanced. The official opening of Guangzhou Rural Commercial Bank marks the significant achievement of Guangzhou's deepening of the reform of rural credit cooperatives and the opening of a new chapter in the development of rural finance.

Zhang Guangning said that currently, Guangzhou is vigorously developing the financial industry and accelerating the construction of a regional financial center around the strategic goal of building a national central city. The newly established Guangzhou Rural Commercial Bank has further enhanced its comprehensive strength, has greater competitive advantages and development potential, and will surely play a positive role in accelerating the construction of a regional financial center in Guangzhou. It is hoped that Guangzhou Rural Commercial Bank will seize the historical opportunity of reform, further improve its corporate governance structure, improve its operating mechanism, firmly grasp the business direction of serving "agriculture, rural areas and farmers" and small and medium-sized enterprises, strengthen product innovation and risk control, and build Guangzhou Rural Commercial Bank into a To become a modern financial enterprise with perfect management, active innovation, efficient service and strong market competitiveness, it will make new and greater contributions to accelerating the construction of Guangzhou regional financial center and the construction of a national central city.

The establishment of Guangzhou Rural Commercial Bank is a successful practice for the provincial party committee, provincial government, municipal party committee and municipal government to implement the spirit of the State Council’s document on the reform of rural credit cooperatives. In April 2009, the municipal government established the Guangzhou Rural Commercial Bank Leading Group, and the restructuring of Guangzhou Rural Credit Cooperatives was officially launched. On November 18, 2009, the China Banking Regulatory Commission officially approved the establishment of Guangzhou Rural Commercial Bank. On November 23, 2009, the founding meeting and the first general meeting of shareholders of Guangzhou Rural Commercial Bank Co., Ltd. were successfully held, and various statutory proposals were completed. On December 7, 2009, Guangzhou Rural Commercial Bank received the opening approval from the China Banking Regulatory Commission and became the first rural commercial bank to be restructured and established in the province's rural credit system. This marked the first phase of the pilot work of deepening the reform of rural credit cooperatives in Guangdong Province. , also marks the beginning of a new chapter for Guangzhou’s rural cooperative financial industry with a history of 58 years.

At present, Guangzhou Rural Commercial Bank has more than 6500 employees and has more than 630 branches all over Guangzhou's urban and rural areas, forming a multi-level rural banking system at the city, district (county), township (town), and village levels. The financial service network is the banking institution with the largest number of interbank outlets and the widest coverage in Guangzhou. As of the end of November 2009, the balance of various deposits reached 144.8 billion yuan, and the balance of various loans was 86.8 billion yuan. At present, Guangzhou Rural Commercial Bank ranks among the top three rural commercial banks in the country in terms of business scale, and its comprehensive strength and market position have been significantly improved. It is reported that Guangzhou Rural Commercial Bank strives to achieve cross-regional development within one year, and is considering applying to establish rural banks in other places and setting up branches in more economically developed areas. At the same time, we will start the listing process and strive to become a publicly listed bank within five years, determined to become a new benchmark for the banking industry in South China and even the country