Joint stock system. Longwan Rural Commercial Bank is the first rural commercial bank in Wenzhou. It was restructured on the basis of the original rural credit cooperative. It has an operating history of more than 60 years. It is a restructured joint-stock commercial bank and the first rural commercial bank in Wenzhou. In June 2005, Longwan Rural Cooperative Bank established a local legal person banking institution based on the integration of the original Longwan District Rural Cooperative Credit Union and its affiliated branches and the transformation of the joint-stock cooperative system.