First Provincial Rural Commercial Bank Listed and Opened This Year

People’s Financial News, March 21 — On March 20, the Gansu Regulatory Bureau of the China Banking and Insurance Regulatory Commission issued an approval for the opening of Gansu Rural Commercial Bank Co., Ltd. It is learned that Gansu Rural Commercial Bank officially opened for business on March 20. Dong Ximiao, Chief Economist at Zhaolian, told reporters that as the first provincial-level rural commercial bank established this year, the opening of Gansu Rural Commercial Bank not only marks a key breakthrough in the long-standing reform of rural credit cooperatives in Gansu but also, with its registered capital of 44.9 billion yuan and pragmatic reform approach, provides a “Western example” for the nationwide, especially Northeast and Central-West regions, ongoing reform and risk mitigation of small and medium financial institutions. (Securities Daily)