1. Rural commercial banks are regular banks. It is a joint-stock local financial institution initiated by farmers, rural industrial and commercial households, enterprise legal persons and other economic organizations within its jurisdiction. Established with the approval of the state financial supervision department, it has the status of an independent legal person, enjoys civil rights and undertakes civil obligations according to law.

2. Rural commercial banks also need to abide by national financial laws, regulations and regulatory requirements, ensure compliance operation, and accept regular inspection and evaluation by national financial regulatory authorities. Rural commercial banks also implement the deposit insurance system, and customers' deposits are protected by the national deposit insurance fund. Therefore, from the legal and regulatory point of view, rural commercial banks are formal financial institutions.