Shandong Rural Commercial Bank is a joint-stock commercial bank, hereinafter referred to as rural commercial bank. Rural commercial banks are in the form of joint-stock system. Generally, it is a bank established by farmers, rural individual industrial and commercial households, independent enterprise legal persons and other economic organizations. Therefore, it operates in the form of a joint-stock system. Because it is funded by Shandong, it belongs to local financial institutions rather than national financial institutions. At present, the name of the banking industry has also begun to reorganize. Our ordinary rural cooperative banks have basically begun to be restructured into rural commercial banks. In the future, rural commercial banks will be common in our daily life, not rural cooperative banks.

Are rural credit cooperatives and rural commercial banks integrated?

Rural credit cooperatives are different from rural commercial banks. In principle, rural credit cooperatives can be jointly reformed into rural commercial banks with other organizations. Because they can only be reformed into rural commercial banks, rural credit cooperatives cannot represent rural commercial banks, and their nature is different.

Rural commercial banks take the form of joint-stock system, which is generally a local financial institution funded by farmers, rural individual industrial and commercial households, independent enterprise legal persons and other economic organizations. A rural credit cooperative can only be established with the approval of the central bank, because it is a financial service institution composed of all members who join the rural credit cooperative and provide all members with financial products such as deposits, loans, funds, gold and futures in the form of democratic management.